The Government of Novosibirsk has signed an agreement with Russia's RAO UES which will see the further development of hydro power in the region.

The Agreement, signed by Novosibirsk Region Governor Viktor Tolokonsky and Chairman of RAO UES Management Board Anatoly Chubais, focuses on social and economic cooperation.

Under the deal, RAO UES of Russia will ensure fulfilment of social obligations towards Novosibirskaya hydro power plant employees in the course of transfer of the plant’s production assets to OAO HydroWGC – agent for of RAO UES in the Novosibirsk region – who will implement an extended modernisation programme to increase reliability at the plant.

OAO HydroWGC will also prepare proposals for hydro power development, including small-scale power generation, based on the forecasts of the region’s industrial and economic development.

For its part, the regional government will assist RAO UES and its subsidiaries, including OAO HydroWGC, in implementing investment projects in the region. It will also assist OAO HydroWGC in obtaining land use approvals and permits, registration of ownership rights, and licenses and permissions required for operation.

Moreover, the region’s government and OAO HydroWGC agreed to join efforts in negotiating electricity rates for the Novosibirskaya plant with the Russian Federal Tariffs Service, taking into account expenses needed to carry out the plant’s modernisation.

They also agreed to take joint steps to ensure that maximum possible amounts of funds are allocated in the federal budget to carry out water protection measures in the Novosibirskaya reservoir.