OREANDA-NEWS. Sberbank of Russia and Hrvatska Elektroprivreda d. d ("HEP") signed a Memorandum of Understanding. The Memorandum was signed by Herman Gref, Chairman of the Executibe Board on behalf of Sberbank of Russia, and Mr. Perica Jukic, Chief executive officer of Hrvatska Elektroprivreda.

The Memorandum establishes a framework for cooperation between the companies and determines the conditions and principles within which the parties will collaborate to achieve their common objectives.

Hrvatska Elektroprivreda (HEP) is the National Electricity Company of Croatia. HEPs subsidiaries are involved in power production (HEP Proizvodnja d.o.o., TE Plomin d.o.o. and Nuclear PP Krsko d.o.o.), involved in the distribution and supply electricity heat and gas (HEP ODS doo, HEP TRADE doo, HEP Supply doo and HEP Gas doo) and involved in TSO systems through HOPS doo who vertically integrated in HEP Group. The company's generation fleet is a mix of thermal and hydroelectric plants.