On December 20, 2016, a ceremony was held to commemorate the completion of the Blagoveshenskaya CHPP phase two construction. The project was implemented pursuant to RusHydro’s program of the power industry’s development in the Far East of Russia, according to a statement made by the press center of the power company. The new power facility will eliminate the heat energy shortage in Blagoveshchensk and make it possible to start heat supplies to new residential districts.

The critical equipment of the new power facility was manufactured by Power Machines engaged as the general contractor. The total cost of the project was RUB7.9 billion (USD130 million). Phase two of the Blagoveshenskaya heat and power plant is one of the four projects in RusHydro’s investment program to build new power facilities in the Far East pursuant to a presidential decree. The project envisages the expansion of the existing Blagoveshenskaya heat and power plant to increase its electric capacity by

120 MW to 400 MW, as well as its heat capacity by 188 Gcal/h to 1,005 Gcal/h. Without this expansion, no further development of Blagoveshchensk would be possible.

RusHydro’s authorized capital is RUB386.255 billion (USD6.37 billion). As of July 31, 2015, the Russian government owned 66.837 percent of RusHydro’s stock. The National Settlement Depository owned 29.1475 percent of RusHydro’s stock.

The IFRS net profits of the RusHydro Group for the first half of 2016 grew by 37.1 percent to RUB25.475 billion (USD420 million) from RUB18.582 billion (USD310 million) for the corresponding period of 2015. Revenues (adjusted for state subsidies) increased by 10.23 percent to RUB194.34 billion (USD3.20 billion) from RUB176.308 billion (USD2.91 billion). Profits from operations rose by 52.23 percent to RUB32.542 billion (USD540 million) from RUB21.377 billion (USD350 million). Pre-tax profits increased by 37.65 percent to RUB34.305 billion (USD570 million) from RUB24.921 billion (USD410 million). The EBITDA grew by 42.6 percent to RUB48.02 billion (USD790 million) from RUB33.667 billion (USD560 million).

According to AK&M Information Agency’s DataCapital information retrieval system, the RAS net profit of RusHydro for the nine months of 2016 grew by 55.33 percent to RUB42.806 billion (USD710 million) from RUB27.558 billion (USD450 million) for the corresponding period of 2015. Revenues increased by 1.2 percent to RUB86.765 billion (USD1.43 billion) from RUB78.023 billion (USD1.29 billion). Sales profits rose by 45.38 percent to RUB47.197 billion (USD780 million) from RUB32.465 billion (USD540 million). Pre-tax profits went up by 45.8 percent to RUB51.445 billion (USD850 million) from RUB35.285 billion (USD580 million). The EBITDA grew by 36 percent to RUB58.495 billion (USD960 million) from RUB43.044 billion (USD710 million).