Viktor Khmarin

Viktor Khmarin serves as Chairman of the Management Board of RusHydro, one of the world's largest hydroelectric power companies. RusHydro operates over 70 power plants — primarily hydroelectric stations — with approximately 38 GW of total installed capacity. The company's hydroelectric fleet spans major river basins, generating clean, renewable electricity from water resources. RusHydro's generation portfolio is predominantly hydroelectric, making it one of the cleanest large-scale power generators globally by carbon intensity. Hydroelectric power provides baseload and peaking capacity with very low marginal operating costs — once a dam is built, the fuel (water) is essentially free. The company also operates thermal power plants, primarily in the Far Eastern regions where it serves as the dominant electricity and heat provider. The company's Far Eastern operations include both generation and distribution assets, providing essential utility services to remote communities. RusHydro has invested in modernization of its aging hydroelectric fleet to improve efficiency and safety, particularly following historical incidents that highlighted maintenance requirements. Key stock drivers include electricity tariff regulations, water levels in river basins (affecting generation volumes), capital expenditure on modernization programs, Far Eastern development subsidies, dividend policy, and the regulatory environment for hydroelectric generation.