OREANDA-NEWS. October 19, 2012. JSC RusHydro announces that it has signed the 12-year loan facility in the amount of EUR 16.5 million with Bayerische Landesbank (Germany). Konstantin Bessmertniy, member of the Management Board, signed the document on behalf of RusHydro.

The facility will be used to finance the replacement of one of the hydro turbines within the comprehensive modernization program of the Saratovskaya hydropower plant. The modernization plan provides for the replacement of all hydro-units of the station. This will significantly increase the safety of hydraulic facilities and environmental safety of the plant.

The modernization of Saratovskaya power station is implemented by Voith Hydro GmbH & Co KG(Austria), a world leader in designing and manufacturing equipment for hydropower plants.

BayernLB (Bayerische Landesbank) is a state-owned bank, one of the largest in Germany and the leading Bavarian commercial bank providing financial services to large and middle size corporate clients in Germany and Europe. The Free State of Bavaria holds (indirectly via BayernLB Holding AG) 94% and the Association of Bavarian Savings Banks 6 % of the shares.