RUSNANO and RENOVA team up to launch solar module project in Russia

26 May 2009

RUSNANO, the supervisory council of the Russian Corporation of Nanotechnologies, has given the corporation’s involvement in a solar module project the go-ahead.

RUSNANO CEO Anatoly Chubais said, ‘We are talking about creating the largest base in Russia for the production of solar batteries. This is the most significant investment in alternative energy on the territory of the Russian Federation.’

A new company is to be established under the project in the Chuvash Republic which will be responsible for the entire cycle of production for solar modules. Its planned capacity is to be one million solar modules per year, the equivalent of 120MW annually.

The core participants in the project are RUSNANO and RENOVA Group with total investment in the project set at RUB20.1bn (€460m). RUSNANO will hold a 49 per cent equity share in the project company while RENOVA will own a 51 per cent stake and will be responsible for development of the business.

The project is scheduled to start in the third quarter of 2009 and reach the planned capacity in the fourth quarter of 2011.

Earlier the Supervisory Council of RUSNANO had approved the Corporation’s participation in a project to establish Russia’s first large-scale complex for production of polycrystalline silicon and monosilane for the manufacture of solar batteries.

‘This undertaking will not only become the starting point for creating a new industry in Russia’s economy, solar energy, but also stimulate the development of a number of related economic sectors,’ added chairman of the supervisory committee of RENOVA Group Viktor Vekselberg.

Copyright © 2009 newnet

Tags: solar

This story was published on Tuesday, May 26th, 2009 at 2:58 pm and is filed under Europe, deals, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “RUSNANO and RENOVA team up to launch solar module project in Russia”

1. solar panels says:

   27 May 2009 at 8:18 am

   I am glad that russian is start to install solar panels.

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