OREANDA-NEWS. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting on February 19, 2016.

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In accordance with the Regulations on management of non-core assets of RusHydro the Board of Directors took a note of the report on non-core assets management in 2015 as well as the list of non-core assets of RusHydro for 2016. The Board of Directors commissioned the Management Board of RusHydro to develop and submit for the Board’s review till June 1, 2016, updated Regulations on management of non-core assets of RusHydro.

The list of assets has been developed in accordance with the Methodology for determining the core assets approved by Federal Property Management Agency on September 26, 2014, and is aimed at costs optimization and reduction of the number of non-core assets listed on the Company’s balance sheet.

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The Board of Directors took a note of the information on construction progress of the Zagorskaya PSPP-2. The Board of Directors commissioned the Management Board of RusHydro to prepare and submit for the Board’s approval the project rationale of the Zagorskaya PSPP-2 restoration (including technical, legal and economic aspects related to subsiding of the basement of the plant’s powerhouse on September 17, 2013).

RusHydro plans to conduct a non-state inspection of the restoration project after testing of compensation grouting technology at the experimental site of the Zagorskaya PSPP-2.

The incident at the Zagorskaya PSPP-2 took place on September 17, 2013. At 22:57 the shift on duty noticed that the turbine room is getting filled with water. At this moment 15 employees have been working on the site. All of them left the building in an organized manner and nobody got injured. In the few following hours the turbine room and the adjacent area have been partially flooded. The primary survey of the site showed that the powerhouse has subsided and water came in through the deformation joints and intakes of half-finished water pipes. Further exploration, including with the help of drilling, identified caverns, formed by washout of soil. These caverns were immediate cause of the subsiding. Two inquiry commissions – one formed by Rostekhnadzor (the Federal Service for Ecological, Technological and Nuclear Supervision) and another by RusHydro – have studied the incident. Construction and assembly risks of the plant were insured by Ingosstrakh and AlfaStrakhovanie, property and equipment – by SOGAZ. As of the beginning of 2016, the Company received the insurance compensations in total amount of RUB 6.47 bn.