Vetroenergetika Management Company LLC and Republic of Kalmykia Sign Cooperation Agreement

09 October 2018

Vetroenergetika Management Company LLC, which manages the Wind Development Investment Fund established by Fortum PJSC and RUSNANO, and the Government of the Republic of Kalmykia signed a non-binding cooperation agreement on constructing wind farms with the combined capacity of 450 MW in the region in 2018–2021.

The agreement was signed by Alexey Orlov, the Head of the Republic of Kalmykia, and Alexander Chuvaev, the CEO of Vetroenergetika Management Company LLC.

The agreement outlines the general principles of cooperation between the parties on planning and implementing wind farm projects in the region. The level of investment will depend on select decisions.

“The Republic of Kalmykia became one of the pioneers in the sphere of harnessing wind power in Russia by creating its own development plan for this new energy-generating means as far back as 2000s. We welcome the efforts made by the heads of the Republic of Kalmykia to promote the use of this promising energy source in the region and we expect these plans to be successfully implemented in close cooperation with the Wind Development Investment Fund,” Alisher Kalanov, the Chairman of the Board of Directors at Vetroenergetika Management Company LLC, stated.

“Developing our own means of generating energy is of paramount importance to our region. I’m convinced that it won’t take long for this cooperation to bear fruit, and I hope to see its first results in the near future,” Alexey Orlov, the head of the Republic of Kalmykia, said.

“The Republic of Kalmykia is rich in renewable energy resources, including wind power. We’re convinced that our active cooperation with the Government of the Republic of Kalmykia will enable us to create one of the wind energy harnessing centres,” Alexander Chuvaev, the CEO of Vetroenergetika Management Company LLC, stated.

In addition, earlier in December 2017, Vetroenergetika Management Company LLC signed a cooperation agreement with the Rostov Region, where wind turbines with a combined capacity of 600 MW are scheduled to be constructed by 2021. Currently, Vetroenergetika Management Company LLC is actively involved in building the first 50 MW wind farm in Ulyanovsk, with plans for the plant to become operational in the 1st quarter of 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 115 factories and R&D Centers opened in 37 regions in Russia.

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.