JSC RusHydro has entered into a memorandum of cooperation with the Government of Krasnoyarsk region for development of the 150MW Nizhne-Kureyskaya hydropower plant (HPP) in Russia.
The plant located on the Kureyka River downstream from the Kureyskaya HPP, will generate 890GWh of average annual electricity.
The memorandum brings out key parameters and detailed cooperation conditions between RusHydro and the regional government for developing the power station.
According to RusHydro, the project is estimated to cost RUR29.8bn ($9.94bn), and the first hydropower units will come online in 2018.
The preliminary purchase agreement provides for a one-part selling price of RUR16 per kWh valid until 31 December 2042 and ensures a 15-year payback period for the project.
In August 2011, RusHydro has signed a power purchase agreement for Nizhne-Kureyskaya with a single off-taker, Turukhanskenergo.