Signed by En+ Group president Oleg Deripaska and China Huaneng Group president Cao Peixi, the agreement aims to feed the increasing domestic demand for electricity and to supply electricity to China.
Deripaska said, "We are further strengthening our cooperation with China and delighted to partner with China Huaneng Group with its unique expertise and experience in power sector".
Peixi said, "Huaneng attaches great importance on the cooperation with our Russian partner and we hope that the cooperation will achieve fruitful results in the coming future".
Apart from power projects, the two companies are also considering joint development of coal projects in Russia.
