HIMALAYAL - SHANGHAI - CHINA
In the presence of Chinese President Xi Jinping and Russian President Vladimir Putin, Shu Yinbiao, chairman of State Grid Cooperation of China (SGCC), and Pudakin, president of Unified Energy System of Russia (UESR), signed a shareholders’ agreement that two countries would set up a joint venture to do business in the Great Hall of the People on 25 June, 2016.
According to the shareholders’ agreement, the joint venture will be located in Russia and involved in a wide range of business activities from power transmission and distribution investment, construction and operation to EPC. The agreement clarifies rights and obligations of two parties on the joint venture’s investment, operation and management and stipulate the business scope, development strategy and company management.
The establishment of joint venture can make the most of SGCC’s technical advantages and extensive experience in grid construction and upgrading and bring the equipment, project and service into Russian market, further improving the international position of the company.
As for the cooperation between two countries, in the presence of Chinese and Russian Presidents, SGCC and UESR signed the strategic cooperation agreement and cooperation agreement on grid infrastructure improvement and new project construction respectively earlier in May and October 2014. Based on the two agreements, both parties will do research on the possibility of setting up a joint venture to accelerate the upgrading of grid infrastructure in Russia and other countries.
The Sino-Russian 500kV DC back-to-back internet project was officially put into operation on 1st April, 2012, achieving annual purchase of 2.6bn kW·h from Russia. The two parties inked a 25-year power purchase agreement.
The electricity is transmitted from Russian Far East to Northeast China through one 110kV, two 220kV and one 500kV DC back-to-back lines now. The total electric power imported from Russia has reached 17.6bn kW·h by the end of 2015.
HIMALAYAL provides innovative products that comprise high voltage test equipment, full-set high voltage test instruments, on-site test systems and on-line monitoring systems, and services regarding tests, diagnostics and asset monitoring for clients in power industry. We help to ensure safety and reliability in the power generation, transmission and distribution.