ANNOUNCEMENT 02 Nov 2009In November 2009, the government of Russia announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Government Decree #1604-p from 2 November 2009
Russian Prime Minister Vladimir Putin signed a ruling (Government Decree #1604-p from 2 November 2009) to inject 4.33billion rubles (96 million Euro) into Russian green energy producer RUSHYDRO (60% of shares belong to the state).
The strategy of RUSHYDRO (http://www.rushydro.ru/) is stated as follows "based on our confidence that the further advance of the hydro-power industry and wider use of renewable energy sources will help strengthen Russia's position as a global energy power, promote the country's growth and enable it to meet the challenges of the future.
the Company's core business:
·Generator of clean electric power: renewable natural resources and environmental purity of the sources used to produce electric power;
·Systemic reliability framework: HPPs function as a supergrid and an operational (having highly manoeuvrable capacities) and strategic reserve for generating electric power and ensuring reliable operation of the Unified Energy System (HPPs with long-period storage reservoirs);
·Tool for developing regions: construction projects for major HPPs and cascades of HPPs used as infrastructure hubs creating the framework for regional development;
·Innovation initiator in the renewable energy sphere: priority focus on technical retooling, encouraging scientific research and development and practical application of new generating technologies using renewable energy sources.
The Company sees its mission in enabling better use of hydro resources, higher UES reliability and wider utilization of the renewables for the benefit of both its shareholders and the public at large. We are striving towards long-term harmonious growth of RusHydro so as to make it a leading global renewable energy company."