OREANDA-NEWS. April 29, 2011. JSC RusHydro (ticker symbol: LSE, RTS, MICEX: HYDR; OTCQX: RSHYY) announces that it signed an agreement on strategic cooperation with State Grid Corporation of China.

In accordance with the document the parties will seek opportunities to cooperate in development of hydropower and alternative renewables, including wind power, as well as investments in shares, project development, construction, operation and technological development of hydropower and other projects.

The companies agreed to create a working group to pursue the initiatives outlined in the document and coordinating the activities. The working group will be in charge of drafting joint action plans, organization of meetings and seminars, coordinating relations with state bodies of both countries, research and analysis.

State Grid Corporation of China was established in 2002 and is currently the largest utilities company in the world. In particular, the corporation is engaged in construction and operation of electricity transmission and distribution lines. State Grid operates in 26 provinces, autonomous regions and cities, comprising 88% of the territory of China.