ENEL AND RUSHYDRO SIGNED MEMORANDUM OF INTENTIONS FOR COOPERATION IN THE ENERGY SECTOR AT THE ST PETERSBURG FORUM

Published on Friday, 18 June 2010

- The two companies will search for opportunities of cooperation in Russia and in other countries
- Implementation of Enel’s automated metering system will also be analyzed

Saint Petersburg, June 18th, 2010 – Today in the framework of the St Petersburg Forum Enel and the largest Russian hydro power company Rushydro signed a Memorandum of Intents aimed at mutual co-operation in the power sector.

The two companies will jointly analyze commercial and investment opportunities in renewable energy projects in Russia as well as in the power retail business, including the metering system implementation and the automated meter management exploitation.

Enel and Rushydro will also exchange best practices in R&D and innovation to jointly carry out scientific research on the power industry.

A Joint Working Group will be established with the aim to periodically report on progresses in any area relating to the scope of the joint co-operation.

Carlo Tamburi, Head of Enel International Division commented “This agreement with the largest Russian hydro power Company strengthens our international position in energy efficiency projects and renewable energy sector. This is in line with our strategy to further consolidate our significant presence in Russia thus expanding it to new sectors where Enel has a world wide leadership and which are becoming more and more strategic for the Country. We are pleased to contribute with our experience and expertise through the creation of a Joint Working Group with the aim to identify and develop joint projects.”

Evgeny Dod, Chairman of the Executive Board of Rushydro, added “The signature of the Memorandum with Enel is an important step for consolidation of expertise in renewables and energy efficiency as well as implementation of Rushydro's international strategy. The collaboration with Enel significantly enhances Rushydro’s opportunities in this sphere and opens new perspectives for both companies.”

 

About Enel
Enel is Italy’s largest power company and Europe’s second listed utility by installed capacity. It has a presence in 23 countries with over 95,000 MW of net installed capacity and sells power and gas to around 61 million customers. Enel has the largest number of shareholders of any Italian company, at about 1.4 million retail and institutional investors in 2009. Enel in Russia is a vertical integrated player active in the power generation, distribution and trading. Through its 19.6% in SeverEnergia, Enel has also a presence in the gas upstream.

About Rushydro
OAO Rushydro  is the largest Russian hydro generating company, with 60 power plants, generating power from renewable energy sources. Rushydro’s installed capacity is 25,400 MW, including the Sayano – Shushenskaya plant, named after P.S. Neporozhnij (6,400 MW), where reparation works are progressing.
OAO Rushydro is  a leader in energy generation from renewables,  developing hydro and wind generating capacities as well as geothermal energy.

General | June, 18 2010

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