SOWITEC agrees on USD-137m wind project cooperation in Rostov

The Azovskaya wind farm in Rostov, Russia. Source: Enel

June 7 (Renewables Now) - German holding company SOWITEC and the governor of Russia’s Rostov Oblast have entered into a cooperation agreement that outlines what could become a RUB-10-billion (USD 137.2m/EUR 112.8m) wind project in the region.

The deal is one of a dozen signed last week at the St. Petersburg International Economic Forum (SPIEF-2021), mostly in relation to industrial projects.

SOWITEC is credited as the initial developer of the 90-MW Azovskaya wind farm in Azov, Rostov. The particular plant was built at a total cost of EUR 132 million (USD 161m) and is now owned by PJSC Enel Russia (MCX:ENRU). It has been operating since last month.

Meanwhile, Rostov governor Vasily Golubev told news agency Prime that the region is expected to hit 1 GW of installed wind power generating capacity in 2024. He noted that 1 GW of capacity equals one nuclear reactor.

(RUB 10 = USD 0.137/EUR 0.113)

(EUR 1.0 = USD 1.217)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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