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The Head of RusHydro briefed the President on the company’s current activities, in particular, the operation of its design complex and investment projects in Chukotka, the Far East and Karachayevo-Circassia.

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President of Russia Vladimir Putin: Mr Khmarin, RusHydro accounts for 16 percent of the total power generation capacity in Russia. This is a significant volume. It is one of the biggest generation companies in the world.

What is your assessment of the company’s performance results?

Head of RusHydro Viktor Khmarin: At the moment, RusHydro is by far the largest power generator in the country.

In fact, it is a holding company, a conglomerate of various types of generation facilities, with the exception of nuclear power plants. These include geothermal, solar, wind, and, of course, thermal generation – both gas and coal. We are one of the largest thermal power generators in the country.

Apart from power generation, the RusHydro holding company also has a significant presence as a design provider today – widely represented in the world, with some of our design institutes operating for about 100 years. At the moment, RusHydro operates in 13 countries, offering consulting services, designing hydraulic equipment, and working in mining, hydropower and other sectors.

In terms of financial results, despite the challenging economic year, we have seen a 20 percent rise in revenues, reaching over 560 billion [rubles]. We have also increased our EBITDA and net profit accordingly.

RusHydro remains one of the largest taxpayers in Russia, contributing about 105 billion rubles. Here, too, we are building up capacity every year.

Vladimir Putin: Excellent. And what about investments?

Viktor Khmarin: In 2023 alone, RusHydro invested about 223 billion rubles. We have completed several major projects, such as the first phase of the Pevek-Bilibino power transmission line in Chukotka, which involved building almost 500 kilometres of a 110 kV overhead line in difficult climatic conditions. We have completed one of the units of the Vladivostok CHP-2, as well as the Krasnogorskaya-1 small hydropower plant with the capacity of 25 MW, a large and very beautiful power plant in Karachayevo-Circassia.

With regard to our investment plans, we are aiming to invest more than 800 billion rubles by 2028, with over 70 percent allocated to projects in Russia’s Far East. We plan to commission about 2.5 GW of electric capacity, and to build more than 500 kilometres of power lines.

At the moment, we are in the process of designing two hydropower plants in the Far East.

Vladimir Putin: Where?

Viktor Khmarin: In the Amur Region, on the tributaries of the Amur River – the Selemdzhinskaya and Nizhne-Zeyskaya.

Vladimir Putin: How is your new headquarters in Krasnoyarsk? Are you settling in?

Viktor Khmarin: Yes. Since January 1, we have stopped hiring new personnel in Moscow, and all new employees are now being recruited only in Krasnoyarsk.

Vladimir Putin: Good. Have you established a normal, business-like relationship with the local authorities?

Viktor Khmarin: Yes. Krasnoyarsk is a remarkably beautiful city, with a great business climate.

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