Russian President Vladimir Putin met with the new CEO of Russia's leading hydropower company RusHydro Nikolai Shulginov in Moscow, Friday. During the meeting the newly instated CEO gave his first assessment of the company to Putin since he took the helm of the state-owned company in September. Shulginov said there were a number of major problems, in particular financing the debt accrued by the now defunct RAO United Energy System. He said that "the debt is big" and that is why he was requesting "an additional issue for RusHydro shares and the repayment of this release by VTB bank." The CEO went on to say he would "direct these funds to repay this debt." However, some would be used to "consolidate all assets in the east," where there are several tasks that must be tackled. Shulginov also said that there has been major progress at the new Blagoveshchensk Thermal Power Plant, which is likely to launch this year. The rest, according to the RusHydro boss, will come on line between 2016 and 2017.
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