Rosatom Eyes Global Wind Power Business

Rosatom Eyes Global Wind Power Business

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Russian nuclear giant – ROSATOM State Corporation is finally set to expand their business in wind power sector. Earlier ROSATOM established a company- OTEK back in 2013 to develop non-nuclear energy projects in Russia.“Over the next couple of years, starting this year, we are determined to develop a wind energy business in Russia with a prospect of entering international markets,” told Vladislav Bochkov, Vice President – Communications of Rusatom International Network, during a media interaction in Moscow recently.
Vetro OGK, a subsidiary of OTEK recently won contracts for 610 MW wind power projects in Russia under the extended procurement for state-supported clean energy capacity distribution during the period from 2018-2020.
The company plans to install 150 MW by 2018, 200 MW in 2019, and a further 260 MW in 2020. The total investment is estimated at USD 1.3bn .The wind power projects will be built in the republic of Adygea, Krasnodar, Rostov, and Stavropol region, as well as other locations. Russia has set a renewable energy target of 4% in its total energy generation by 2020.
“The 610 MW we were awarded amounts to 17% of the new wind energy capacity projected in the country by 2024,” Bochkov added.
Bochkov emphasized that Russia, a signee of the 2015 Paris Climate Convention, aims to reduce its carbon emission footprint up to 70% by 2030, “therefore we decided to pursue wind power generation.” According to him, renewable energy and wind power in particular is on par with nuclear energy as the company’s fulcrums of clean energy balance.
“As we term Rosatom as a carbon-less Energy Company, we see wind projects as a promising addition to our portfolio,” Bochkov said.
Before winning the recent contract Rosatom did not participate in any clean energy distribution tenders because of the 70% local content requirement restrictions .In order to secure state-supported clean electricity purchasing tariffs, bidders have to prove their capability to produce the necessary equipment locally.
To overcome the hurdle, Rosatom is looking for a business partner which could assemble wind project equipment locally. Prepreg-SKM, part of Rosnano, another Russian energy holding might be one of the possible contractors.
Bochkov opined that the development of renewable energy worldwide as well as in Russia has reached such a “level”, where it starts “impacting” business models of large energy holdings including Rosatom.
“The projected capacity of wind power to be harnessed in the world over the next 15 years is over 1,000 GW. We view wind energy business in the same way as the nuclear energy business,” he emphasized.
“Rosatom’s decision to invest in Russia’s wind sector follows efforts by the Russian government to improve the clean energy investment environment in the country,” underlined Bochkov.
He hopes that Rosatom’s move to wind power will motivate other Russian energy market players to follow the same.
“We do not plan to stop where we are now and we will certainly participate in new similar tenders in the future, hopefully with other market players,” Bochkov said in his concluding remark.

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