OREANDA-NEWS. JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces that it has signed a letter of understanding with Korea Water Resources Corporation (K-water). The document is aimed at cooperation in hydropower, renewable energy sources and environmental issues of water usage; and refers to design, construction, operation and maintenance of hydro facilities and project financing.

RusHydro and K-Water agreed to consider a possibility of cooperation in implementation of projects on the territory of Russia, South Korea and other countries. This collaboration provides for joint research, exchange of technical know-hows in terms of hydropower facilities modernization and other businesses development.

The signed document is valid for two years and may be prolonged. The parties will form a working group that will be responsible for discussion and making decisions on potential joint projects and preliminary terms of financing. 

About K-Water

Government-owned corporation, K-water was founded in 1967; the company operates 30 multi-purpose dams, 69 integrated regional water supply systems and 14 facilities for industrial water utilization. As of today, total installed capacity of K-Water’s renewable energy sources amounts to 1.3 GW, including the world’s largest Sihwa-lake tidal power plant (254 MW). Since 1994, the company has completed more than 40 projects in 23 countries, 24 projects are being implemented.