Voith Hydro has signed a memorandum of understanding with PJSC RusHydro to modernize turbines at the 1,360-MW Saratovskaya hydropower plant.
The deal, signed by officials during the St. Petersburg International Economic Forum, dictates that the machinery by manufactured in Russia by VolgaHydro LLC -- a joint venture between the companies announced in March 2013.
RusHydro and Voith approved preliminary terms of a deal intended to optimize costs associated with rehabilitating the plant in January.
Voith signed a deal in September 2011 to modernize the project's first five Kaplan turbines for about US$191 million, though subsequent changes to the contract have allowed for rehabilitation of all of Saratovskaya's 21 turbines, increasing its total capacity by about 10%.
Saratovskaya is part of the 10,000-MW Volga-Kama cascade, which is located in southwestern Russia.
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