Rusnano to enter turbine production

RUSSIA: Rusnano, the state-owned nanotechology investor and developer, is committing to turbine manufacture for the country's development of wind power.

Rusnano board chairman Anatoly Chubais (right) with Russian president Vladimir Putin (centre)

Rusnano has signed an agreement with Finnish energy utility Fortum to install up to 200MW of wind power in Russia over the next few years.

Fortum will focus on the construction of the first phase of a wind project in the Ulyanovsk region in the west of the country. Rusnano will provide the hardware, with blade production handled by a subsidiary, HC Composites

Rusnano recently announced the establishment of two international consortiums, one to focus on wind project development, the other to provide components and equipment.

The volume of investment for the first stage of development is estimated at RUB 10 billion ($170 million).