June 6 (Renewables Now) - Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS) and Russian group Rusnano have signed a pact for incresing the local production of equipment for wind projects in Russia.
The Memorandum of Understanding (MoU) covers supply chain optimisation and the local manufacturing of wind turbine components, Vestas said on Wednesday. The Danish firm added that it is also considering deploying technologies developed by Rusnano portfolio companies in the manufacturing process.
The goal of the agreement is to strengthen both Vestas’ and Rusnano’s positions on the Russian sustainable energy market. Its signing follows Vestas’ participation as technology partner in the Wind Energy Development Fund, a joint investment vehicle of Rusnano and Finnish utility Fortum Oyj (HEL:FORTUM). The fund, which is equally-owned by the two parties, won in tenders the right to build 1,000 MW of wind parks in Russia in June 2017 and a year later secured a further 823 MW.
Vestas and Rusnano have already partnered in projects using locally made turbine components.