RUSNANO and NordEnergoGroup to Discuss Localising Electrical Equipment for Wind Power Industry

13 January 2020

RUSNANO and NordEnergoGroup LLC (part of the Severgroup) signed a Memorandum of Understanding to create an investment fund for localising electrical equipment for a wind power plant (WPP) as part of the second program to support renewable energy sources for the period of 2025-2035.

In particular, the cooperation envisages projects for the production of a generator, a frequency converter and a transformer for a wind power plant. The partners are planning to identify jointly the most promising WPP component production technologies for transfer and to engage an international vendor, a WPP producer, as a technological partner. NordEnergoGroup can provide its production sites and expertise that are in demand for the implementation of the joint project.

According to the memorandum, the parties are planning to coordinate the financial and economic parameters of the fund in the second quarter of 2020.

Localisation of innovative energy equipment in Russia is part of the program to stimulate renewable energy sources (RES) in the wholesale market of electric energy and capacity. As part of the first RES support program, which is to be implemented by 2024, investors in wind power generation must ensure the level of localisation for RES equipment of at least 65%. Within the framework of the second RES support program for the period of 2025-2035, tougher requirements for localisation of implemented WPP up to 90% are being discussed.

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. JSC RUSNANO has profit for the last 5 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.

* * *

NordEnergoGroup is a Russian company established to manage the power engineering and electrical assets of Severgroup. The company’s mission is to ensure leadership by combining advanced achievements in energy and electrical engineering and contributing to the business development of its customers and partners. Its visionary goal is to become an integrator of the best energy and electrical solutions for all customers.

NordEnergoGroup comprises the leading enterprises of the Russian machine-building complex: JSC Taganrog Boilermaking Plant “Krasny Kotelshchik” (TKZ), JSC Kaluga Turbine Works, Reostat Plant LLC, LLC SZD Engineering.

One of the areas of activities of NordEnergoGroup is the expansion of the asset portfolio by means of investing in new perspective areas and small technological companies, complementary production and technological chain and sales channels.