Russian hydropower utility RusHydro has signed a three-year strategic partnership with Siemens LLC Russia to refurbish hydropower and thermal plants, implement renewable energy projects including hydro, and manufacture power generation equipment.
The agreement was signed October 20 by Chairman Evgeny Dod of the RusHydro Management Board and Chief Executive Officer Dietrich Moller of equipment manufacturer and engineer Siemens LLC Russia.
Under the agreement, the companies are to strengthen and develop their strategic partnership with priorities including cooperation in reconstruction, modernization and technical upgrade of hydro and thermal power plants as well as construction of new power plants in Russia.
Other priorities include joint participation in implementation of renewable energy projects utilizing hydropower, solar and wind power, and manufacturing of equipment for power generation based on renewable energy sources located in Russian territory.
The government-owned RusHydro recently began offering its shares on the St. Petersburg Stock Exchange. It also consolidated its hydro engineering subsidiaries and formed alliances with PowerChina to develop small hydro in Russia's Far East and with tidal energy developer Atlantis Operations Ltd. to develop joint tidal projects in Australia.