RusHydro in a joint project with Japanese investors, RusHydro
Release Date: 2009-07-17
The meeting of RusHydro, Mitsui and J-power (Japan) on July 10 was headed by Vasily Zubakin, acting Chairman of the Board of RusHydro, Pavel Ponkratyev, Head of renewables department of RusHydro, Seigo Mizunuma, Executive Officer of the International Power Business Dept. of J-power, Utaka Ueda, Director of business development department of Mitsui, Kenichi Mochida, Head of Mitsui office in Moscow, and Hiroyasu Sugiyama, Director of J-power.The meeting was focused on construction of Dalnevostochnaya VES (wind power station) on Russky and Popova islands. Parties agreed on the project schedule that is to be approved by all investors. Project financing from international banks will be the main source of financing.
Total cost of Dalnevostochnaya VES is estimated as 3 billion rubles; Japanese share of the investments can reach 50%. Allegedly, Japan will be a co-investor of wind park construction after a closer study of the wind potential. Dalnevostochnaya VES was registered in June, 2009 in Vladivostok as joint stock company for implementation of the joint project.
Capacity of the wind power plant can reach 36 MW: up to 16 MW on the Russky island and up to 20 MW on Popova island. Construction starts in 2010 and finishes in 1Q of 2012. The project is in the framework of preparation to the APEC summit on Russky island in 2012.
This is the first major project in renewable energy in the Far East of Russia; it will provide energy for the entire Popova island and part of Russky island. Besides, it will improve its social and economic condition with tax proceeds and qualified working places.
Clean energy of the future wind power plant will be used for supply of the Far East Federal University, APEC summit facilities and consumers of continental Vladivostok.
Memorandum of Agreement for this project was signed by RusHydro, Mitsui and J-Power on May 11, 2009.
| Type: | NORMAL |
| Company: | RusHydro |
| Country: | Russian Federation |