HYDRO POWER..Joint ventures aside, RusHydro has also secured contracts to refurbish and modernise hydro plants, for example recently receiving the first payment under an agreement with Nigeria’s Mainstream Energy Solutions Ltd. In September 2012, a consortium of Mainstream and RusHydro won a tender to operate two hydropower plants in Nigeria.Both power plants — Kainji and Jebba — are located on the Niger river, and installed capacities of 760 MW and 578 MW, respectively, though current available capacity is substantially below the nameplate. The concession conditions provide for modernization, with RusHydro responsible for technical management and management.Mainstream has committed to spend US$452 million for modernisation of the plants during the first five years of the concession. Meanwhile, RusHydro has also supported funding for refurbishment of hydro projects. In May the company backed a $25 million loan from the Asian Development Bank for modernization of Armenia’s Sevan-Hrazdan hydropower plants, built between the 1930s and 1960s. Located on river Hrazdan between Lake Sevan and the city of Yerevan, it currently supplies about 10 percent of the country’s electricity.
Posted on: Wed, 25 Sep 2013 12:15:37 +0000
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