OREANDA-NEWS. May 27, 2011. JSC RusHydro (ticker symbol: RTS, MICEX, LSE: HYDR; OTCQX: RSHYY) announces that it has signed a Memorandum of Understanding with Energia Argentina S. A. (ENARSA). Evgeny Dod, Chairman of the Management Board of RusHydro, and E.O. Espinosa, President of ENARSA, signed the document.

In accordance with the Memorandum the parties will seek opportunities for implementation of joint projects in hydropower and alternative renewable sources, cooperate in expertise exchange in energy efficiency, design, construction, maintenance and modernization of hydropower facilities.

One of the directions of cooperation will be development of joint projects in renewable energy sources, including tidal energy.  In the near-term, the companies will consider the possibility of participating in joint projects on development, design and construction of hydropower plants in Argentina. In addition, the parties agreed to work out opportunities for cross-border electricity sales with neighboring countries.

To implement initiatives outlined in the Memorandum and to coordinate actions, the companies plan to form a joint coordination committee.

Energia Argentina S. A. (ENARSA) was established in 2004 as a state-owned entity. The company is engaged in production and distribution of electricity generated by renewable and alternative energy sources  in Argentina. ENARSA puts increased focus on environment and develops solar energy, bio-fuel and bio-mass, as well as other fields.