Rusnano, Renova Group JV to set up 12.3 MW solar plant in Russia
(ADPnews) - Nov 8, 2010 - The Russian Corporation of Nanotechnologies (Rusnano) said on Friday that its joint venture (JV) with Russian conglomerate Renova Group, Khevel, would build a 12.3 MW solar power plant in southern Russia.
Khevel, which was set up in 2009 to develop solar power, had agreed last Tuesday with the government of the Stavropol region to set up the plant there.
The plant will use wafer-thin micromorphic solar cells produced at the JV's solar cell manufacturing plant in the Chuvashka republic under a license by the Swiss Oerlikon Solar Company, part of OC Oerlikon Corp (VTX:OERL).
The cell manufacturing facility is under development since 2009 and is scheduled to be completed in the last quarter of 2011 for a total investment RUB 20.1 billion (USD 653m/EUR 469m). It will have a designed capacity to produce 1 million modules or 120 MW per year and will be 51% controlled by Renova and 49% owned by Rusnano.
The solar power plant is scheduled for commissioning in 2012.