The agreement assumes the provision of nearly 1,000 GWh of energy to a business unit this year. Credit: Dan Meyers on Unsplash.

Hydroelectricity supplier RusHydro has signed an agreement to power Russian company Polyus‘ Krasnoyarsk Business Unit (KBU).

The Sayano-Shushenskaya hydropower plant will provide 1,000 GWh of electricity to KBU this year. The agreement will run until 31 December 2021, with a possibility of future extension.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Polyus CEO Pavel Grachev said: “This deal marks the transition of Polyus’ core business unit to renewable energy sources and represents a landmark event for our company.

“Climate change is a global challenge, and it is important that as a responsible business we support the decarbonisation of the global economy. For this reason, we are choosing to power our production assets with energy sources that will minimise our greenhouse gas emissions.”

Upon commencement of supplies under the contract, 100% of the electricity consumed by Olimpiada and Blagodatnoye, the producing assets of Polyus, will come from renewable sources.

Based on this estimate, the KBU hopes to cut 50% of greenhouse gas emissions this year. Polyus’ emissions could reduce by a third compared to the previous year.

Last year, the company signed a five-year bilateral agreement with RusHydro for the sale and purchase of electricity produced by hydroelectric power plants. The amount of energy supplied under this agreement has exceeded more than 300GWh annually.

RusHydro Management Board chairman and general director Viktor Khmarin said: “For RusHydro, the signing of this agreement is testament to the high demand for environmentally friendly renewable electricity generated by our hydropower plants.

“We are witnessing growing interest for supply contracts for energy generated at our hydroelectric power plants from industrial companies aiming to decarbonize their production, and we will ramp up our work in this area in order to achieve common goals on mutually beneficial terms.”