Russia's largest hydropower company RusHydro said that it plans to build seven major power facilities in the Far East region, Itar-Tass news agency reported Friday.

Russian President Vladimir Putin has signed a decree to inject 50 billion rubles (about $1.6 billion) into RusHydro's capital, according to the reports.

The funds will be allocated for the implementation of priority investment project, namely a thermal power station in the city of Sovetskaya Gavan in the Khabarovsk region, the Sakhalin GRES-2 plant, the Yakutsk GRES-2 plant and the Blagoveshchensk thermal plant, it said.

The first units of the power plants will be launched in the next three to four years.

RusHydro is now actively building power facilities in Russia's Far East, including the Vostochnaya thermal power plant in Vladivostok and the first stage of the Yakutsk GRES-2 plant, according to Itar-Tass.

It has already launched a fifth unit of the Yuzhno-Sakhalinsk Thermal Power Station One.