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NovaWind will invest 955 mln RUB in the construction of a wind turbine manufacturing plant in Volgodonsk

The Ministry for Industry and Trade, NovaWind and Red Wind have signed a Special Investment Contract.

NovaWind will invest 955 mln RUB in the construction of a wind turbine manufacturing plant in Volgodonsk

Sochi, February 15 - Neftegaz.RU. At the Russian Investment Forum, the Ministry for Industry and Trade of Russia, NovaWind (the ROSATOM division responsible for renewable energy industry projects) and Red Wind, a Russian-Dutch joint venture, have signed a Special Investment Contract (the SPIC) to implement the investment pro-ject for creating a manufacturing facility in Russia.


The manufacturing facility will be used for wind turbine components assembly within the project for the construction of 610 MW wind farm and wind turbine manufacturing facility in Volgodonsk, the Rostov Region.


The Minister for Industry and Trade Denis Manturov, CEO of NovaWind Aleksandr Korchagin and the Head of the Russian branch of Red Wind Anton Kovalenskiy signed the document in the presence of the 1st deputy Minister for Energy Aleksey Texler, the Governor of the Rostov Region Vasiliy Golubev and Director Gen. of ROSATOM Aleksey Likhachev.


The project focuses on establishing manufacture of wind turbine generators and nacelles in Russia amidst stable environment for carrying out activities which is guaranteed on the side of Russian. NovaWind will act as the project investor. The estimated cost of the project will be around 955 million rubles. The facility in Volgodonsk will create 254 jobs.


The production will be carried out by Red Wind, a joint venture of NovaWind and Lagerwey. The batch production capacity is expected to reach 96 sets per year. The production facility will further ensure sale of products for subsequent pro-jects or external orders.


Within the SPIC, the government provides for the following incentive measures: stable aggregate tax burden on income, stable requirements for industrial products manufactured under the SPIC to attribute them to products manufactured in Russia.

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