OREANDA-NEWS. The Board of RAO “UES of Russia” instructed the RAO UES representatives on the Board of Directors of OAO "Bureyskaya HPP" to vote for the inclusion on the EGM agenda of the proposals to lease the property of OAO "Bureyskaya HPP" to OAO "HydroWGC", provision by OAO "Bureyskaya HPP" of equipment operation and maintenance services, and approval of the loan to be provided by OAO "HydroWGC".

In order that Russia's Federal Tariff Service set a tariff for OAO "HydroWGC", the latter should own generation equipment meeting the requirements imposed on the wholesale electricity market participants. For that purpose, OAO "HydroWGC" plans to lease the property of the Bureyskaya HPP from 1 January to 31 December 2007.

The lease payment amount will be calculated based on the amounts of equipment depreciation charges, property tax, and profit margins.

Additionally, in order for OAO "Bureyskaya HPP" to be able to redeem its promissory notes sold to RAO "UES of Russia", it is planned that the company will obtain a RUB1.9 billion loan from OAO "HydroWGC".