The deal covers four key directions of cooperation: reconstruction and modernization of the Kubanski cascade hydropower complex in southern Russia; cooperation on development of hydropower activities; cooperation in areas of R&D and investment; and local manufacturing of hydropower equipment in Bashkortostan.
The Kubanski cascade project will include the installation of a new instrumentation and control system as well as a site security system, following an earlier MoU signed between the two parties in September 2010.
The companies have agreed to create a joint venture for the construction of a hydropower equipment manufacturing facility and have chosen Ufa City in Bashkortostan as a potential site for the facility.
The facility will produce turbines, generators, auxiliary equipment, hardware and software for hydro power projects.
