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Hydro-Québec and EuroSibEnergo to Start Strategic Cooperation on Hydropower Generation and Transmission Research and Development Projects - Irkutskenergo, part of Russia’s largest independent power company EuroSibEnergo, and Hydro-Québec have entered into a two-year agreement to start a strategic cooperation on hydropower generation and transmission research and development projects
Hydro-Québec and EuroSibEnergo to Start Strategic Cooperation on Hydropower Generation and Transmission Research and Development Projects

 

PRZOOM - /newswire/ - Montréal, Québec, Canada, 2013/03/07 - Irkutskenergo, part of Russia’s largest independent power company EuroSibEnergo, and Hydro-Québec have entered into a two-year agreement to start a strategic cooperation on hydropower generation and transmission research and development projects.

   
 
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Irkutskenergo, part of Russia’s largest independent power company EuroSibEnergo, and Hydro-Québec (HQ), one of the world’s largest hydropower producers, have entered into a two-year agreement to start a strategic cooperation on hydropower generation and transmission research and development projects. The agreement was signed by Artem Volynets, CEO of En+ Group (owner of EuroSibEnergo) and Élie Saheb, Executive Vice President Technology at Hydro-Québec.

Under the agreement, Hydro-Québec and Irkutskenergo will collaborate and conduct technical exchanges on hydropower generation and transmission and research in leading power technologies on the basis of findings from Hydro-Québec’s research centre (IREQ), whose experience in the industry is well established internationally.

Irkutskenergo will get access to Hydro-Québec’s technological innovation projects, initially in the power generation and transmission portfolios. The companies have outlined seven initial joint projects in generation and transmission, including condition-based maintenance for turbines and generators and transformer service life, among others. Irkutskenergo will provide co-financing for the projects and obtain license rights on Russian territory.

“This cooperation creates new technology transfer opportunities for two leading hydropower companies, whose assets are located in very similar regions of the world. Our companies share the same values and place the responsible development of hydropower and innovation at the heart of our activities. We believe that this collaboration will not only be beneficial for our companies but will also provide positive growth to the world’s power industry in general,” commented Artem Volynets, CEO of En+ Group.

“We are very pleased with the recognition of IREQ's expertise in technological innovation by a company as significant as EuroSibEnergo. Technological innovation is an important activity for both Hydro-Québec and Irkutskenergo. This cooperation is part of an open innovation approach," said Élie Saheb, Executive Vice President Technology at Hydro-Québec.

Mr. Artem Volynets, CEO of En+ Group (owner of EuroSibEnergo) and Mr. Élie Saheb, Executive Vice President Technology at Hydro-Québec.

About EuroSibEnergo
EuroSibEnergo (eurosib.ru), part of En+ Group, is Russia's largest independent power company in terms of installed electricity capacity and one of the largest hydro-electric generating companies in the world. EuroSibEnergo operates 18 power plants with total installed capacity of 19.5 GW, including 15 GW from some of Russia's largest hydropower plants in Siberia. EuroSibEnergo generates about 9% of the Russia’s electricity and about 40% of Siberia’s electricity.

About Hydro-Québec
Hydro-Québec (hydroquebec.com) generates, transmits and distributes electricity. It is Canada’s largest electricity producer and one of the world’s largest hydroelectric power producers. Its sole shareholder is the Québec government. It uses mainly renewable generating options, in particular large hydro, and supports the development of other technologies such as wind energy and biomass through purchases from independent power producers. Its research institute, IREQ, conducts R&D in energy-related fields, including energy efficiency.

For information: EuroSibEnergo (En+ Group)
Andrey Petrushinin - Press Officer, En+ Group
T: +7 495 642 79 37 - E: AndreyEP[.]enplus.ru.

 
 
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Hydro-Québec and EuroSibEnergo to Start Strategic Cooperation on Hydropower Generation and Transmission Research and Development Projects

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Contact: Louis-Olivier Batty - HydroQuebec.ca 
514-289-4214 batty.louis-olivier[.]hydro.qc.ca
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Hydro-Québec / IREQ securities in any jurisdiction including any other companies listed or named in this release.

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