Shareholders of RusHydro have approved additional emissions worth 1.8
billion rubles for the restoration of the Baksan hydro electric plant,
RIA Novosti reports.
Member of RusHydro Board Rakhmetulla Alzhanov said earlier that the
Baksan hydro electric plant in Kabardino-Balkaria (attacked by
terrorists on July 21, 2010) was to be re-launched before November 1.
RusHydro combines 60 renewable energy facilities.
The shareholders also approved agreements on collateral and guarantees
of payment with the Vnesheconombank (Bank of Development and Foreign
Economic Affairs) on Boguchan energy-metal association.
Vnesheconombank will provide 28.1 billion rubles for the construction
of the Boguchan hydro electric plant. The credit terms are 16 years.
Paying the credit will be carried out using financial resources from
the Boguchan association, gathered from sales of electricity and
aluminium.
According to the decision approved by the Monitoring Council of
Vnesheconombank on July 28, 2010, to fulfill the obligations to
Boguchan hydro electric plant, BoAZ company and RusHydro, it will
provide a share bail of the customer of Buguchan power plant
construction, organizer of the construction, organizer of Boguchan
aluminium factory construction, bill paper of Boguchan hydro electric
plant, BoAZ company and will be a guarantee in the credit agreement
between the hydro plant and the bank.
The unscheduled meeting of RusHydro shareholders was held on October 22.
