The RusHydro Group announced it has consolidated approximately 25 percent of shares of JSC Krasnoyarsk HPP. The 6,000-MW Krasnoyarsk HPP is the second-largest hydro project in Russia, behind only the Sayano-Shushenskaya hydroelectric project.
The deal was carried out through a swap of 4.53 percent of JSC RusHydro's shares from the balance of JSC Hydroinvest, a 100 percent-owned subsidiary of JSC RusHydro, without any cash contribution.
Acquiring a stake in Russia's second-largest hydropower plant will create operational synergy between the capacity of the Krasnoyarsk HPP and the RusHydro Group, as well as increase profitability for RusHydro's retail business in the Krasnoyarsk Region due to more efficient cooperation between the Krasnoyarsk HPP and JSC Krasnoyarskenergosbyt (Krasnoyarsk Retail Supply Company), RusHydro said.
Furthermore, the deal will enable the RusHydro Group to use an integrated approach to developing hydro-generation in Siberia, coordinating and implementing an integrated rehabilitation and modernization investment program, a press release states.
It will also allow implementation of an integrated program for system safety at all power plants of the Enisei Cascade (the Krasnoyarsk, Sayano-Shushenskaya and Mainskaya HPPs).
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