Earlier this month the board of directors of RAO UES approved the plan to accelerate the consolidation of Hydro OK, and said that the changes would eventually see the state with a 50% plus one share to remain with a controlling hold on the hydro company.
In late 2005, RAO UES approved the reorganisation of Hydro OGK into operating management companies. The latest plans will see subsidiaries set up which will focus on wind power, other renewables, and also various investment projects. The approved reorganisation will involve additional issuance of shares to the state and RAO UES
Hydro OGK is developing the major hydro power schemes in Russia, principally the 3GW Boguchanskaya scheme on the river Angara in Siberia. The project is being completed with industrial partner Rusal, the state aluminium producer.
The company is also involved in a JV, recently launched, to develop 2.5GW of hydro in a cascade system on the river Timpton in eastern Siberia. Further, relatively smaller, projects under development include the 65MW Kashhatau project.
A recent summary of hydro investment put the tally of turbines needed in existing plans to 2011 at 45, having a combined capacity of 5GW. The summary added that 43 generators would be needed. Over 2006-10, the company is to install just over 4.9GW of capacity.
