RusHydro inaugurates Vostochnaya CHPSource: RNS
RusHydro inaugurates Vostochnaya CHP in Vladivostok
PJSC RusHydro (MOEX, LSE: HYDR; OTCQX: RSHYY) announces that today, September 10, 2018, it inaugurated Vostochnaya combined heat and power plant (CHP) in Vladivostok. The gas-fired power plant with electric capacity of 139.5 MW and heat output capacity of 432 Gcal/h has annual output of 791 GWh and 1.38 million Gcal, respectively.
The plant is equipped with GE gas turbines. The majority of other key equipment is sourced from Russian manufacturers such as Power Machines (water-tube boilers), Dorogobuzhkotlomash (peak boilers), Entroros (steam boilers), Togliatti Transformer and SVEL Group (power transformers).
The plant will replace obsolete TsPVB (Central steam water boiler), which was dependent on steam transported via 7 km pipeline from Vladivostokskaya CHP-2, making it both, inefficient and dependent on the external source of energy. The boiler was in service for 30 years upon which its equipment service life has expired.
Nikolay Shulginov, Chairman of the Management Board - General Director commented: "The new plant will cover up to 20% of Vladivostok's total demand for electricity and will provide heat and hot water for 50 thousand households as well as a number of industrial companies".
Andrei Tarasenko, acting Governor of Primorsky Region added: "The new plant will create capacity reserve for upcoming new housing projects".
RusHydro Group is one of Russia's largest generating companies. RusHydro is the leading producer of renewable energy in Russia with over 400 generating facilities in Russia and abroad. The company also manages a number of R&D, engineering and electricity retail companies. Group's thermal assets are operated by subsidiary - RAO Energy System of East in the Far East of Russia. Total electricity generation capacity of the Group is 39.0 GW, heat capacity - 18.5 thousand GCal/h.
Russian Federation owns 60.6% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on Moscow Exchange (MOEX), and included in MSCI EM и MSCI Russia indexes. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.
For more information:
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The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
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