Hevel to Invest USD258.3 Million in Three Solar Power Plants in Astrakhan, Russia

Published: Oct 11 2017
Deal Summary

Hevel Group, a joint venture of Renova Group and Rusnano, has agreed to invest up to RUB15,000 million (USD258.3 million) in the construction and development of three solar power plants situated in the Astrakhan Region, Russia. The combined installed capacity of the solar power plants will be135 MW. The investment per MW will be USD1.91 million.

Hevel and the Astrakhan Region have signed a partnership agreement on cooperation in the sphere of solar power development. According to the agreement, Hevel is implied to build three solar power plants with a combined capacity of 135 MW in the Astrakhan Region over the period of 2017-2019. Solar power plant Niva with the capacity of 15 MW, and two more 60 MW solar power plants in the Privolzhsky (Funtovo settlement) and Akhtuba districts.

The project investments are provided by the Hevel Group structures. The Government of the Astrakhan Region, in its turn, ensures the project’s comprehensive information and administrative support.

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