OREANDA-NEWS. November 22, 2011. JSC RusHydro (ticker symbol: RTS, MICEX, LSE: HYDR; OTCQX: RSHYY) announces that it has signed a preliminary agreement with Alstom Group to supply energy equipment for modernization of the generation fleet of JSC RAO  ES of East, a vertically-integrated power holding in the Far East of Russia, recently acquired by RusHydro. The document was signed by Evgeny Dod, Chairman of the Management Board of RusHydro, and Gregoire Poux-Guillaume, President of Alstom Grid.

With this agreement, RusHydro and Alstom have broadened the scope of their cooperation, which now encompasses cooperation not only in hydropower, but also thermal power generation.

In particular, the parties will seek to jointly develop and implement the most efficient technologies of coal-burning at power plants of RAO ES of East and cooperate in construction of new power plants. Comprehensive modernization of RAO ES of East will increase the reliability of the energy system of the Far East of Russia. The strategy of RusHydro on development of the Far Eastern power sector shall include substitution of economically inefficient thermal plants with efficient low-cost generation, conclusion of bilateral power-purchasing agreements with consumers both for existing capacities and generation assets under construction, realization of opportunities of electricity export to neighboring countries and carrying out of investment projects using instruments of private-public partnerships and project financing.

This agreement is a logical step in cooperation of the Russia's largest hydrogenating company and one of the world's leading manufacturer of energy equipment. The parties already cooperate in joint venture that will develop a factory for production of hydroelectric and ancillary equipment in Bashkiria, and the project to overhaul hydropower plants in the Kuban region.

Alstom is the world leader in production of energy equipment and provider of quality solutions in electricity generation and transmission, railway transport. One of the leading developers of innovative technologies and eco-friendly solutions.