The MoU includes a decision by both parties to consider possibilities of cooperation with respect to the reconstruction and refurbishment of several operating Russian hydropower plants, including pumped storage plants, as well as optimisation and maintenance.

As a potential first case, the companies have agreed to cooperate on the modernisation of the Kubanski cascade hydropower complex in the south of the country and a new pump storage plant (2x70MW) at Zelenchuk.

In addition, the companies are outlining ways for cooperation in hydropower research and development.