15 Oct 2012 16:37
October 15th, 2012
RusHydro secures financing for modernization of the Saratovskaya hydropower plant from BayernLB
JSC RusHydro announces that it has signed the 12-year loan facility in the amount of EUR 16.5 million with Bayerische Landesbank (Germany).
The facility will be used to finance the replacement of one of the hydro turbines within the comprehensive modernization program of the Saratovskaya hydropower plant. The modernization plan provides for the replacement of all hydro-units of the station. This will significantly increase the safety of hydraulic facilities and environmental safety of the plant.
The modernization of Saratovskaya power station is implemented by Voith Hydro GmbH & Co KG(Austria), a world leader in designing and manufacturing equipment for hydropower plants.
BayernLB (Bayerische Landesbank) is a state-owned bank, one of the largest in Germany and the leading Bavarian commercial bank providing financial services to large and middle size corporate clients in Germany and Europe. The Free State of Bavaria holds (indirectly via BayernLB Holding AG) 94% and the Association of Bavarian Savings Banks 6 % of the shares.
For more information:
JSC RusHydro, Investor Relations Department
Tel. +7 (495) 225-3232 ext. 1319, 1394, 1607
ir@rushydro.ru
DISCLAIMER
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. One can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements.
We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia and rapid technological and market changes in our industries, as well as many other risks specifically related to RusHydro and its operations.