Moscow. 18 January 2007. RAO "UES of Russia" and the Novosibirsk Region Government have signed an Agreement on social and economic cooperation and hydro power development in the region. The Agreement was signed by Novosibirsk Region Governor Viktor Tolokonsky and Chairman of RAO UES Management Board Anatoly Chubais.
Under the document, RAO "UES of Russia" will ensure fulfilment of social obligations towards Novosibirskaya HPP employees in the course of transfer of the plant's production assets to OAO "HydroWGC" and will continue to pursue the personnel policy designed to preserve jobs and ensure safety at work. OAO "HydroWGC", which acts as agent for of RAO "UES of Russia" in the Novosibirsk Region, will implement an extended modernization programme at the Novosibirskaya HPP designed to increase the plant's reliability. By 2011, the Company plans to spend over RUB288 million in funds on these projects.
OAO "HydroWGC" will also prepare proposals for hydro power development, including "small-scale" power generation, in the Novosibirsk Region, based on the forecasts of the region's industrial and economic development. In addition, HydroWGC will take part in the implementation of coordinated social programmes designed to improve the social, economic and environmental situation in the Novosibirsk Region.
In its turn, the regional government will assist RAO "UES of Russia" and its subsidiaries, including OAO "HydroWGC", in implementing investment projects in the region. The region's Government will also assist HydroWGC in obtaining land use approvals and permits, registration of ownership rights, and receiving all licenses and permissions required for operation. Moreover, the region's government and OAO "HydroWGC" agreed to join efforts in negotiating electricity rates for the Novosibirskaya HPP with the Russian Federal Tariffs Service taking into account the expenses needed for carrying out the plant's modernization.
They also agreed to take joint steps to ensure that maximum possible amounts of funds are allocated in the federal budget to carry out water protection measures in the Novosibirskaya HPP reservoir.
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The Novosibirskaya HPP is a branch of OAO "HydroWGC". The plant's production assets are to be contributed to OAO "HydroWGC" pursuant to Instruction No. 1254-r of the Russian Federation Government, dated 1 September 2003.
Federal Hydrogeneration Company (OAO "HydroWGC") is Russia's largest power generation company in terms of installed capacity. It comprises 49 hydropower plants with the total installed capacity of 23.3 GW.
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