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Russia

Russia

Russian nuclear firm on course to win 610MW

RUSSIA: Russian nuclear firm Rosatom plans to invest about RUB 83 billion (€1.1 billion) to construct 610MW of wind power plants in Russia by 2020.

Russia has only approximately 15MW of installed wind capacity
Russia has only approximately 15MW of installed wind capacity

According to a spokesman for the Russian industry and trade ministry, VetroOGK, the wind energy subsidiary of Rosatom, filed the applications as part of a renewable energy tender.

The firm is set to commission three wind power projects with a total of 150MW by 2018; a further ten projects amounting to 200MW by 2019; and then 13 more with a combined capacity of 260MW by 2020.

Rosatom was the only bidder in the tender, according to Bloomberg New Energy Finance.

According to sources in the industry and trade ministry, the level of interest investors have shown in participating in tenders has been weak, as the Russian government plans to cut the internal rate of return from 14% to 12%.

Rosatom is looking for a turbine technology partner for the joint implementation of the projects.

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