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Russia

Russia

RAO Energy plans $200 million wind investment in eastern Russia

RUSSIA: RAO Energy System of East, the largest electricity supplier in eastern Russia, is considering investing up to $200 million in developing wind projects by 2016-2017.

The Primorsky region in the far east of Russia
The Primorsky region in the far east of Russia

According to RAO's deputy general director for strategy and investments, Alexey Kaplun, the projects could be built in the Primorsky Territory, Sakhalin, Kamchatka and Khabarovsk Krai, all in eastern Russia.

There are currently energy supply issues in these regions. Although they are rich in oil and gas, much of this is exported.

So far, the company has already signed agreements of cooperation with Japanese companies Mitsui & Co and Komaihaltec to build a project in Ust-Kamchatsk, a rural location on the eastern shore of the Kamchatka Peninsula at the mouth of the Kamchatka River.

RAO is also in talks with wind manufacturers from France, Denmark and Germany about supplying the projects, Kaplun said.

The company plans to provide the majority of funds for the project from its own resources, with the rest provided by banks in the form of loans.

RAO has already started talks with several banks, in particular state-owned Vnesheconombank, about project funding, the company said.

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