RusHydro is to supply electricity produced by the Sayano-Shushenskaya hydropower plant to gold producer PJSC Polyus after signing a bilateral power purchase agreement.
According to the agreement, which will be in effect until the end of 2021, the electricity supplied from Russia’s largest hydropower plant will cover the needs of PJSC Polyus’ facilities in the Krasnoyarsk region. During the contract’s term, the electricity supply will reach close to one TWh.
“The agreement we have just signed further proves the increasing demand for clean electricity produced by our hydropower facilities as more and more companies are placing increased importance on decarbonization of supply chain,” said Victor Khmarin, Chariman of the Management Board – General Director of RusHydro. “We are committed to moving forward in that direction for the benefit of both parties.”
The deal will see PJSC Polyus’ manufacturing facilities at Olympiada and Blagodatnoye deposits fully covered by renewable electricity, which in turn will result in twofold reduction of greenhouse gas emissions of its Krasnoyarsk business unit in 2021. The terms of contract allow for prolongation at the agreement of both parties.
“Signing of the contract marks the transition of Polyus’ key business-unit to renewable energy sources,” said Pavel Grachev, CEO of PJSC Polyus. “For us, this is a monumental step forward. Climate change is a global challenge and reduction of greenhouse gas emissions is highly important for us as Polyus is determined to reduce its environmental footprint.”