The agreement covers four key directions of cooperation: reconstruction and modernisation of the Kubanski cascade hydropower complex in Southern Russia; cooperation for the development of hydropower activities; cooperation in areas of R&D and investment; and local manufacturing of hydropower equipment in the Republic of Bashkortostan, Russia.

The Kubanski cascade project will include the installation of a new instrumentation and control system as well as a site security system, following an earlier Memorandum of Understanding (MoU) signed between the two parties in September 2010.

The agreement was signed yesterday in the presence of Vladimir Putin, Russian Prime Minister, Francois Fillon, French Prime Minister, Sergei Shmatko, Russian Energy Minister, Patrick Kron, Chairman and CEO of alstom and Philippe Joubert, President of Alstom Power.

As well as the agreement with RusHydro, Alstom also signed deals with other major Russian energy companies that will see the company provide power generation products and services for Russia’s thermal power generation, nuclear power generation and electricity transmission sectors.