Published on: 2026-10-14
Source: Government of the Russian Federation –
An important disclaimer is at the bottom of this article.
The results of the company’s work for the past period and plans for the near future were discussed, including the implementation of hydropower projects in southern Russia, the investment program for modernization and construction of new power plants in the Far East, as well as issues related to preparing personnel for the industry.
From the transcript:
M. Mishustin: Good afternoon, dear Viktor Viktorovich!
You head the largest Russian energy company by installed capacity. It unites more than 600 generation facilities. Its structure also includes an electric grid complex, heat supply, sales, and repair organizations. You also have your own research centers and engineering companies.
RusHydro plays a crucial role in providing electricity and heat to Russian settlements, primarily in the Far East. Our President spoke about the importance of this macroregion at the plenary session of the Eastern Economic Forum, including the program for the development of the electric power industry of the Far Eastern Federal District until 2050, which was recently approved.
I would ask you first to tell us about the company’s results for the first half of the year. What are the production and financial outcomes?
V. Khmarin: Mikhail Vladimirovich, we produce energy based on all types of generation except nuclear. At hydroelectric, coal, gas plants, solar, wind, and even geothermal power plants. Currently, we are the largest power generator in the country, nearly 42 GW, which is 13% of the total production across the Russian Federation.
All financial and economic performance indicators of RusHydro’s operations for the first half of 2026 show significant growth. This is primarily due to a definite increase in electricity generation output — about 81 billion kWh. Revenue also rose to 428 billion rubles, approximately a 20% increase compared to last year. EBITDA for the first half stands at around 150 billion rubles, which is 53% higher than the previous year. And net profit reached 60 billion rubles, nearly 90% more than in the same period last year.
RusHydro also remains one of the largest taxpayers in the Russian Federation. By the end of 2026, we plan to pay about 166 billion rubles in taxes to various budgets. And in the coming years, we expect this amount to double again due to the commissioning of new generation facilities.
M. Mishustin: It is important not to slow down and to continue moving forward, expanding opportunities to increase generating capacities, including those based on renewable sources. This helps not only to reduce environmental impact in cities but also to actively implement advanced technologies and develop domestic production of components and equipment.
At our last meeting, you reported on the development of hydropower. What are the current plans for the construction of hydroelectric power stations and pumped-storage plants? And how is the implementation of the investment program for the modernization, expansion, and construction of new power plants in the Far East progressing, which we also discussed?
V. Khmarin: We continue to implement hydropower projects. These are mainly concentrated in the south of Russia, in the Caucasus. We are continuing construction and will soon commission the Nikhiloyskaya HPP in the Chechen Republic, the Verkhnebakskaya HPP in the Kabardino-Balkarian Republic, as well as carry out the modernization of the pumped-storage plant cascade of the Kuban HPPs in the Karachay-Cherkess Republic.
There is a significant technological achievement – for the first time in world practice, we have carried out quite unique and complex work to restore the elevation of the building of the station unit of the Zagorskaya HPP-2. That is, this building weighing about 300 thousand tons we managed to level and raise by almost one and a half meters – by 140 cm. Until now, no one in the world has moved such structures in this way. This technology was developed in our institutes. We plan to complete the Zagorskaya HPP-2 by 2028.
We are also designing the Nizhne-Zeyskaya hydroelectric power station ahead of schedule, with an installed capacity of over 400 MW. It will play an important role not only as an electricity generator but also as part of flood control measures in the Far East.
M. Mishustin: It is necessary to continue actively developing both of these directions. Hydropower plants are not only a powerful resource for supporting industrial facilities, but also what is called cheap electricity. The construction of such facilities will contribute to creating more attractive investment conditions in specific regions and across the country as a whole.
As for the Far East, this is, of course, the most important strategic direction that receives special attention in the country, not only in terms of strengthening the economic potential of the macro-region but also in improving the quality of life of our citizens, as well as expanding Russia’s opportunities in the eastern vector.
Of course, such work requires personnel. This is one of the most serious challenges. Especially considering the plans to build new power plants and expand production. How does your company address this issue?
V. Khmarin: Yes, considering the future increase in installed capacity in the Far East – over 2 GW at the stations whose modernization and construction we are currently undertaking, we plan to recruit more than a thousand specialists just for these generation facilities. As of today, our holding employs 75 thousand people, with an average salary in 2026 of about 153 thousand rubles. The company aims to secure its workforce for future periods. We cooperate with 22 universities, support energy classes. We have programs to support students. We provide scholarships, develop energy classes in schools. We have statistics showing that about 85% of the students from these energy classes go on to pursue engineering and energy specialties.
M. Mishustin: Viktor Viktorovich, the development of generation affects the implementation of a number of plans in many sectors of the economy. And of course, the quality of life in the homes where our citizens live.
It is necessary to consolidate positive changes and ensure the implementation of plans both for the construction of new energy facilities and for the introduction of advanced technologies into the industry. And there is a request to keep these issues under personal control.
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