JSC RusHydro announces the completion of creation of a new wholly-owned subsidiary, JSC Malye GES Altaya. The subsidiary will oversee construction of a pilot small hydropower project in the Altay Republic.
The primary share issue of the subsidiary received the state registration on March 4, 2011. The corporate action was made to proceed with a pilot project of construction of small hydro project "Chibit" included in the company's investment program.
The necessary preparations are currently under way at the construction site of the small hydropower project. The first stage of surveying is now complete. The drilling and field studies equipment is already onsite.The geodetic, construction, drilling and surveying works of the second stage are now in progress.
The preliminary design specifications and estimates were purchased by ZAO HydroEngineering Siberia (RusHydro Group) from local authorities of Altay Republic in October 2010.
In July 2010, the government of the Altay Republic and RusHydro signed an agreement on cooperation in development of small hydropower generation in the region with Chibit SHPP as pilot project. The project is included in the company's investment pipeline. RusHydro will build a 24-MW power plant at river Chuya and connect it to the grid.
For more hydropower news and information, click here