December 20, 2019 Moscow, Russia.
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY)
announces completion of assets consolidation in Kamchatka. The
restructuring included merging of JSC Geotherm and PJSC KamGEK with
PJSC Kamchatenergo.
The restructuring has been implemented in two
stages: the first stage included merging of geothermal assets into
JSC Geotherm, while second stage envisaged merging of JSC Geotherm
and PJSC KamGEK with PJSC Kamchatenergo.
Nikolai Shulginov, Chairman of the Management
Board – General Director commented: ‘Assets consolidation allows
to reduce operating costs, increase efficiency of investments and
make energy supply in the region more reliable”.
Today, RusHydro Group is represented in the region
by only two companies instead of nine earlier: PJSC Kamchatenergo and
JSC YuESK (100% subsidiary of PJSC Kamchatenergo, responsible for
energy supply to isolated communities of Kamchatka Peninsula).
|