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Eastern Economic Forum

Hevel, Hyundai to invest up to $139 mln in construction of solar-diesel stations

The memorandum was signed on Wednesday in the framework of the Eastern Economic Forum

© AP Photo/Lee Jin-man

VLADIVOSTOK, September 6. /TASS/. Group of companies Hevel (Renova and Rosnano joint venture) and Korean Hyundai signed a memorandum of cooperation in the field of construction of solar-diesel power plants. The amount of financing for the project will reach around 8 bln rubles ($138.9 mln), Hevel General Director Igor Shakhray told TASS.

The memorandum was signed on Wednesday in the framework of the Eastern Economic Forum. The document was signed by Hevel, Hyundai and the Agency for Investment Attraction and Export Support in the Russian Far East.

"The volume of joint investments in the design and construction of hybrid diesel-solar power plants at the first stage - 2018 - will amount to 2 bln rubles ($34.75 mln), with subsequent increase of up to 8 bln rubles ($138.9 mln). The financing parameters for the project will be discussed before the end of the year," he said.

The total capacity of power plants is 40 MW. Shakhray also noted that first hybrid stations could be constructed in Yakutia.

"We have accumulated considerable experience in the implementation of projects for construction of hybrid generation plants," he said. "The results of stations in operation confirm that solar-diesel plants allow reducing diesel fuel consumption to 50% in areas with a high level of insolation, that is why we see high potential for such projects in the Far East," he added.

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Eastern Economic Forum

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