Vetroenergetika Management Company and Government of Stavropol Territory Sign Cooperation Agreement

07 November 2018

Vetroenergetika Management Company LLC, which manages the Wind Development Investment Fund established by Fortum PJSC and RUSNANO, and the Government of the Stavropol Territory signed a non-binding cooperation agreement to build wind power plants, with a combined capacity of up to 500 MW, in the Territory in 2018–2022.

The document was signed by Vladimir Vladimirov, the Governor of the Stavropol Territory, and Alexander Chuvayev, the CEO of Vetroenergetika Management Company LLC. The agreement outlines the general principles of cooperation between the parties on planning and implementing the wind farm construction projects in the Territory. The level of investments will depend on select decisions.

“We are proud of how unpolluted and beautiful the Stavropol Territory is. Our goal is to save and protect this territory, which is why we are deeply interested in environmentally friendly commercial projects including wind power. And the Stavropol Territory has everything that is required for their development in the region. Implementing plans that are already in place will create wind farms with a total capacity of about 1 gigawatt in the territory. We welcome Vetroenergetika as a new partner and active participant of this project,” Vladimir Vladimirov added during the signing.

A similar agreement was signed earlier between Vetroenergetika Management Company LLC and the Government of the Republic of Kalmykia, with plans to build 450 MW wind power plants there by 2021. The Wind Development Investment Fund also has plans to implement investment projects, with an aggregate capacity of up to 600 MW, in the Rostov region. Currently, Vetroenergetika Management Company LLC is actively constructing a wind farm with a capacity of 50 MW in Ulyanovsk, with plans to make it operational in 2019.

Additional information

Reference

RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 95 factories and R&D Centers opened in 37 regions in Russia. JSC RUSNANO has profit for the last 4 years.

Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.

Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.

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The Wind Development Investment Fund was established in equal partnership by Fortum and RUSNANO. The Fund is managed by Vetroenergetika Management Company LLC, owned in equal parts by its partners. The Fund won the right to build wind farms with a capacity of almost 2 GW in a competition aimed at selecting investment projects for building power generating facilities based on renewable energy sources. The wind farms are expected to start operating in the period from 2019 to 2023.