RusHydro has announced it has signed a three-year deal with Siemens LLC Russia that will see the firms cooperate in the development of hydro and other renewables in Russia and abroad.

The strategic partnership and cooperation agreement was signed by by Evgeny Dod, Chairman of the Management Board РGeneral Director of RusHydro, and Dietrich M̦ller, CEO of Siemens LLC Russia.

Under the terms of the agreement the companies are planning to cooperate in the reconstruction, modernization and technical upgrade of existing hydro and thermal power facilities, as well as building new projects in Russia.

They have also agreed to jointly implement renewable projects, including hydro, in Russia and other countries, and manufacture equipment for renewable projects in Russian territories.

The terms and conditions will be determined separately for each project, the companies said in a statement.