Electricity giants JSC RusHydro and the Korea Water Resources Corporation have signed a letter of understanding designed to encourage cooperation in developing hydroelectric power and other renewable energy sources.
The document also says the partners will cooperate in addressing the environmental issues of water usage, and that it refers to the design, construction, operation and maintenance of facilities and their financing.
RusHydro and K-Water have agreed to consider the joint implementation of projects in Russia, South Korea and other countries, with collaborative efforts to include “research, exchange of technical know-hows in terms of hydropower facilities modernization and other business development.”
The document is valid for two years and may be prolonged.
RusHydro (LSE: HYDR) said the companies will now form a working group responsible for studying potential projects and preliminary terms of financing.
RusHydro announced alliances with PowerChina and China Three Gorges Corp. last November.
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