As part of the business program of the VIII International Forum "Russian Energy Week", RusHydro, Zarubezhneft and the Government of the Kamchatka Territory signed an agreement on cooperation in the field of integrated development of geothermal energy in Kamchatka. This is stated in the message of the parties.
The key joint project of the signed document is the construction of a new Mutnovskaya geothermal power plant with a capacity of 66.5 MW.
The agreement provides for the pooling of efforts and competencies for the implementation of promising geothermal projects, including exploration and development of deposits and the creation of conditions for the construction and commissioning of Mutnovskaya GEOHPP-2.
The implementation of the project will increase the energy supply of the Kamchatka Territory. The station will use an advanced low-potential heat recovery system based on the organic Rankine cycle. The expected installed capacity utilization rate will exceed 90%, which is a record among renewable energy facilities. The project will also improve the efficiency of the energy system by reducing the use of expensive imported fuel and reducing the environmental burden, the report says.
In preparation for the project, the companies Kamchatskenergo (part of RusHydro) and ZN Geotherm (part of Zarubezhneft) have established a joint venture called Geothermal Energy, which will ensure the performance of geological exploration and design and survey work.
The Government of the Kamchatka Territory will provide comprehensive support to the project, including organizing and conducting a regional competitive selection of renewable energy generation projects. Assistance will also be provided in processing documents for participation in government programs, receiving subsidies, benefits and the status of a resident of the Kamchatka Priority Development Area.
The implementation of the main stage of the Mutnovskaya GEOHPP-2 construction will begin after a positive investment decision is made following the successful completion of the first stage of work (geological exploration and subsequent design).
Zarubezhneft is a 100% state—owned Russian oil and gas company. The company specializes in the development of oil and gas fields in Russia and abroad.
Zarubezhneft is developing the continental shelf of South Vietnam as part of the Vietsovpetro joint venture. Other projects include the development of fields in the Nenets Autonomous District (Rusvietpetro and Zarubezhneft-mining Kharyaga), the use of advanced technologies for the extraction of high-viscosity grades of oil in Cuba, increased oil recovery at mature fields in Uzbekistan, as well as the implementation of projects in Egypt and Indonesia. In addition, the company operates in the Oil Refining and Sales segment in the Republika Srpska (Bosnia and Herzegovina), has its own design institutes for underground and above-ground development of oil and gas fields, as well as service companies.
PJSC Federal Hydrogenating Company RusHydro (TIN 2460066195) unites renewable energy facilities in Russia and abroad, thermal power plants and electric grid assets in the Far East, as well as energy marketing companies and research and design institutes. As of March 31, 2025, it consists of 22 branches registered in the Russian Federation.
The share capital structure of PJSC RusHydro as of March 31, 2025: RF (62.2%), VTB (12.37%), EN+Group (9.644%), others (15.79%).
The profit of shareholders of PJSC RusHydro under IFRS for the first half of 2025 increased by 26% to 30.89 billion rubles from 24.45 billion rubles a year earlier. Net profit increased by 33.6% and amounted to 31.6 billion rubles. Revenue increased by 15% to 325.69 billion rubles from 282.968 billion rubles. The group's revenue, including government subsidies, increased by 13.7% to RUB 358 billion. EBITDA increased by 30.6% to 98.3 billion rubles.
