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RusHydro and Chinese corporation Сhina Three Gorges Corporation to build anti-flood hydropower plants in the Far East

RusHydro Group signed an agreement with China Three Gorges Corporation on the joint implementation of hydropower projects in the Russian Federation. The agreement was signed in Beijing by Evgeny Dod, General Director - Chairman of the Management Board of JSC RusHydro, and Lu Chun, President of the Three Gorges Corporation, and provides for the joint implementation of projects for the construction of flood-proof hydropower plants in the Amur River basin in the Russian Federation.

The agreement provides for the creation of a joint venture (JV) with a 51% to 49% share distribution between RusHydro and the Tri Gorges Corporation for the organization, financing, construction and operation of hydroelectric power plants in the Amur Region and the Khabarovsk Territory with a total installed capacity of up to 2000 MW. The estimated cost of the projects included in the agreement may be up to 230 billion rubles. At the same time, the cost of building each station will be clarified after the feasibility study. The parties plan to attract at least 70% of the necessary funds through a project financing mechanism secured by long-term contracts for the supply of electricity from mainly Chinese and Russian financial institutions. Also, according to the agreements reached, the "Three Gorges" corporation assumes responsibility for negotiations on the conclusion of long-term contracts for the sale and purchase of electricity from the stations, intended for construction.

With regard to the project of each hydropower plant, RusHydro will prepare and submit for consideration to the Board of Directors and the management of the joint venture a feasibility study prepared with the participation of reputable international financial consultants. Based on the results of the feasibility study, the Board of Directors and the management of the joint venture will assess the economic feasibility of the projects and the prospects for exports in accordance with possible long-term power supply agreements with a view to making decisions on further steps to implement the projects.

The construction of hydroelectric power stations will not only provide reliable protection of the Amur region from extreme floods, but will also create new generating capacities for both domestic demand and electricity exports to China. The agreement provides for an assessment of the feasibility and subsequent construction of four HPPs: Nizhne-Zeyskaya (400 MW), Selemzhinskaya (300 MW), Gilyuskaya (462 MW) and Nizhne-Niemanskaya (600 MW).

Evgeny Dod, CEO - Chairman of the Management Board of RusHydro, noted: “By signing an agreement with the Three Gorges Corporation, we have reached a new level of cooperation between our countries in the field of energy and attracting Chinese investments into the Russian economy. The signed agreement is not just a protocol of intent, but a practical document describing concrete steps to implement large-scale projects in the Russian Far East. Our Chinese partners will be actively involved at all stages of the project: design, equipment supply and construction. The implementation of these projects will not only provide protection against catastrophic floods on both sides of the Amur - both in Russia and in China, but will also make a significant contribution to the development of modern energy infrastructure, contributing to the economic development of the region and the creation of jobs.

Lu Chun, Chairman of the Three Gorges Corporation, said: “I hope that through this agreement Russia and China will be able to achieve a higher level of cooperation in the field of clean energy production and that the Russian-Chinese strategic cooperation will deepen and benefit both the inhabitants of the Russian Far East. and the people living along the Heilongqiang River in China. "

In October 2013, RusHydro and the Three Gorges Corporation agreed to sign during a meeting in Beijing an agreement on cooperation on the construction of flood-control hydroelectric power plants in the Amur River basin to protect adjacent territories from floods. Extreme flooding in the Russian Far East and in the northeastern regions of China in 2013, caused by heavy monsoon precipitation, highlighted the need to develop measures to protect against the risks of recurrence of similar floods in the future.

The flood of 2013 in the Amur River basin was the strongest in the history of hydrological observations: it was unique in its coverage and affected all river basins, including those located on Chinese territory. To a significant extent, the negative effect of the flood was mitigated by two hydroelectric power stations of RusHydro-Zeya and Bureyskaya HPP. Nevertheless, the insufficient regulation of the Amur and its tributaries by the reservoirs leaves room for a repeat of severe flooding in the future.

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