OREANDA-NEWS. JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) has signed a three-year strategic partnership and cooperation agreement with Siemens LLC Russia. The document was signed by Evgeny Dod, Chairman of the Management Board - General Director of RusHydro, and Dietrich Möller, CEO of Siemens LLC Russia.

According to the agreement the companies will strengthen and develop their strategic partnership in all areas of interest with the following priorities:

cooperation in terms of reconstruction, modernization and technical upgrade of hydro and thermal power facilities in operation as well as construction of new power projects in Russia;

joint participation in implementation of renewable energy projects (hydro power, solar energy, wind power) in Russia and other countries;

manufacturing of equipment for power generation based on renewable energy sources located on the territory of Russia.

The terms and conditions will be determined separately for each project.

Siemens LLC is the head Siemens company for Russia, Belarus and Central Asia (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan). The company counts over 3,300 employees and is a leading supplier of products, services and complex solutions for various industries and infrastructure. In FY 2013 (as of September 30), orders in Russia, Belarus and Central Asia amounted to nearly EUR 2.4 bn, revenue totaled over EUR 2.4 bn.