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Almost 1.5 Billion of Budget Money and About 1 Million of RusHydro Shares to be Invested into Gotsatlinskaya Hydro Power Plant in Dagestan

The Energy Ministry of the Russian Federation, RusHydro and Rosimushchestvo (the Federal Property Management Agency) took a decision to make additional investment into the extension of the Gotsatlinskaya hydro power plant in Dagestan. It has been decided to allocate for the construction of the hydro power plant about 1.5 billion rubles (the exact amount is 1 billion 498 million 178 thousand rubles during the year 2012) from the state budget of Russia. In its turn OAO RusHydro, according to the agreement, is to transfer to the state the ownership of 907 986 666 equity shares of the additional issue, which are aimed at being placed by public subscription. Such approach is presupposed by the Federal law “On the federal budget for 2012 and the planned period of 2013 and 2014”.

It should be reminded that the construction of the Gotsatlinskaya hydro power plant at the territory of Dagestan (the designed capacity is 100 MW, the scheduled average annual production – 350 million KWh) started in winter 2007. The organizer of the construction was the 100% subsidiary of RusHydro — OJSC «Sulak Hydroelectric cascade”. According to the plan the hydro aggregates of the Gotsatlinskaya HPP are to be commissioned at the end of 2013. Gotsatlinskaya HPP is to become the fourth most powerful hydro power plant in Dagestan, and its operation is to decrease the energy deficit in Dagestan, which is now about one billion KWh.

 

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