RusHydro to spend 1.6 bln rubles on Zaramagskye hydropower station in 2011
ROSTOV-ON-DON. March 1 (Interfax) - RusHydro plans to spend 1.621 billion rubles in 2011 on construction of the second section of the Zaramagskye Hydroelectric Station cascade (GES-1, North Ossetia) in 2011 compared with over 3.6 billion rubles in 2010, a RusHydro spokesman told Interfax.
The spokesman did not explain the reason for the 50% cut in investment.
The money will be used to continue construction of the main structures of the GES-1 cascade, including the basin for regulating volumes, the turbine inlets, other structures and the diversion tunnel linking the second cascade section with the first, the currently operating Golovnaya Hydroelectric Station.
RusHydro will provide the money internally and from borrowing.
RusHydro plans to start up operation of GES-1 by 2014. The station will reduce the electricity production shortfall in North Ossetia to 15% of consumption from 80% currently.
The Zaramagskye station includes Golovnaya and GES-1, 2 and 3, located on the Ardon River. The cascade will have design capacity equal to 520 megawatts, with average annual production of 1.1 billion kWh. The Golovnaya station began operating on September 18, 2009.
The cascade is being built by Zaramagskye GES, in which RusHydro owns 95.46% of shares.
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