Russian hydro power generator HydroOGK and Austria's Verbund have signed an agreement to cooperate in the construction of new hydro plants in Russia.

The agreement, signed on 10 November by Vyacheslav Sinyugin, Chairman of the Board of HydroOGK, and Hans Haider, Verbund General Director, will see both parties work on a joint study for the construction of new plants.

A work committee, consisting of experts from both companies, is to be established, in which common work spheres as well as specific new power plant projects are to be defined.