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Russia

Russia

Gazprom unit plans 50MW in Russia

RUSSIA: TGK-1, a subsidiary of natural gas producer Gazprom, has reportedly announced its intention to build 50MW of wind capacity in the St Petersburg region during the next 18 months.

Finnish developer Fortum owns a 29.45% stake in TGK-1
Finnish developer Fortum owns a 29.45% stake in TGK-1

The projects are set to be located across six sites, located within the St Petersburg region, northwest Russia. The company has already started the search of for sites.

Analysts believe one of the reasons for TGK's interest in building wind farms in St Petersburg may be explained by its affiliation with Fortum, which owns a 29.45% stake in the company.

Earlier this year, Fortum, together with Rusnano, were granted 1GW of licences for the building of wind power capacities in Russia by 2022.

According to the Russian Wind Industry Association (RAWI) the Russian government is working on a mechanism to support the development of renewable energy beyond 2024.

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