Chinese President Xi Jinping met with Russian President Vladimir Putin who came to attend the APEC Summit at Diaoyutai State Guesthouse on November 9. They witnessed the signing of a series of bilateral agreements, including the agreement between POWERCHINA and RusHydro on cooperation in development of Leningradskaya pumped storage plant (PSP) in Russia and potentially other PSP capacity. The agreement was signed by Fan Jixiang, the chairman of POWERCHINA and Evgeny Dod, the CEO of RusHydro.
With 37.5 GW installed electricity generation capacity, RusHydro is one of Russia's largest power generating companies. Including the Sayano-Shushenskaya HPP, the largest in Russia, it has over 70 renewable energy source facilities.
Before signing the agreement, Fan Jixiang and Evgeny Dod had a friendly talk. They agreed that under the direct guidance and intervention of the two governments and long-term joint efforts on both sides, it is another important achievement made by strengthening the comprehensive energy partnership and deepening the comprehensive strategic partnership between China and Russia. The signing of the cooperation agreement during the APEC Summit was of great significance, and showed a good trend in bilateral exchanges and cooperation between the two countries. It also laid a solid foundation for deepening China-Russia cooperation in electricity generation. POWERCHINA and RusHydro will grasp opportunities for development through joint efforts and implement the relevant work to ensure the successful implementation of the project.
They said POWERCHINA and RusHydro would carry out preparatory work to accelerate the pumped storage project and strive to officially start the project in 2015.
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