RIA Novosti reported that the Russian government has instructed the Economics and Energy Ministries to sell a seven percent stake in the country largest hydropower generator RusHydro by July 1 2012 if market conditions are favorable.

The Russian government is the largest shareholder in RusHydro with a 57.9% stake. The Russian authorities previously planned to sell 7.97% minus one share in RusHydro in 2011-2013.

Mr Igor Sechin Russian Deputy Prime Minister said in late June that the government could sell the 7% share package within a year.

The Russian government has approved a USD 33 billion privatization plan for 2011-2013 which includes the sale of shares in the country top 10 companies.

(Sourced from RIA Novosti)