Enel, Rostov govt agree on USD-136m wind project investment

Enel Russia (MCX:ENRU), a unit of Italian energy giant Enel SpA (BIT:ENEL), has entered into a cooperation agreement with the government of Russia’s Rostov region for the potential development of a RUB-10-billion (USD 136m/EUR 115m) wind project.

The deal would lead to the construction of a wind farm if the scheme is successful in upcoming tenders held by the Russian government. The plant would be Enel’s second in the region as it recently opened the 26-turbine Azovskaya wind park totalling 90 MW on the coast of the Azov Sea. That particular project required a total investment of about EUR 135 million (USD 159.6m).

“Enel is constantly looking for the opportunities to expand its portfolio of renewable energy projects in Russia. It is important for us as well to see the prospective interest in the region in reducing the carbon footprint and developing new technologies for a sustainable economy,” said Stephane Zweguintzow, Enel’s country manager in Russia.

The local government has agreed to provide organisational, state and informational support for the project and to consider the possibility of including it in the “Governor’s hundred investment projects” in the region.

Also in Russia, Enel is currently developing the 201-MW Kolskaya and 71-MW Rodnikovskaya wind projects, located in the Murmansk and Stavropol regions, respectively.

Meanwhile, Enel X Rus has agreed with the Development Corporation of the Sverdlovsk Region (DCSR) to cooperate on the development of charging infrastructure for electric vehicles (EVs) in the Sverdlovsk region and to implement sustainable energy projects.

“Increasing investment in the production of electric vehicles is a global trend. We see that the largest carmakers declare the termination of the development of natural gas vehicles. The growing demand for electric vehicles in Russia must be supported with the relevant charging infrastructure. The avenue is very promising,” stated Maxim Prachik, General Director of DCSR.

(RUB 10 = USD 0.14/EUR 0.11)

(EUR 1 = USD 1.18)

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