Azerbaijan, Baku, June 8 / Trend E. Kosolapova/
Russian company RusHydro and Kazakh company Kazakhmys agreed to cooperate in development of small hydropower plants, RusHydro reported. The companies signed an agreement on Thursday in the presence of Russian President Vladimir Putin and his Kazakh counterpart Nursultan Nazarbayev.
According to the agreement, RusHydro and Kazakhmys will launch a joint venture on construction of small hydropower plants with total capacity of 300 MW in Kazakhstan. The shares of the companies in the joint venture will be determined later.
"This project is the first joint Russian-Kazakh project in the sphere of renewable energy sources. Cooperation between the two companies will be a test platform for developing technologies and projects in the field of renewable energy within the Common Economic Space and the Customs Union," Russian company said.
Kazakhmys is a leading international natural resources group with significant interests in copper, gold, zinc, silver and power generation. It is the largest copper producer in Kazakhstan and one of the top worldwide with seventeen operating mines, ten concentrators and two copper smelters.
RusHydro Group is one of Russia's largest power generating companies in terms of installed capacity. It is also the leader in power production using renewable energy sources, developing power generation using water flows, tidal, wind and geo-thermal energy. The company has over 70 renewable energy source plants.
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