A source at Zurich-headquartered Russian company Avelar Energy has stressed reported plans for 12 PV plants in Russia totalling 120 MW, are still at the negotiations stage.
Russian news agency Interfax on Wednesday reported plans by Avelar whose major shareholder is Russian industrial conglomerate Renova Group and a subsidiary of South Korean company LG Electronics to develop the plants in the Orenburg, Altai and Bashkortostan regions.
The Interfax report said construction of the plants would start next year and continue until 2016 with the projects expected to come online in 2017 at a total cost of US$400m.
Korean firm to design and build plants
The report speculated LG subsidiary LG CNS would design and build the projects and may take a stake in the companies formed to develop the schemes.
Interfax also reported the modules for the projects will be supplied by Hevel Solar, a joint venture between Renova Group and Russian state-owned nanotechnology company Rusnano.
An Avelar representative told pv magazine the plans are still ‘ongoing negotiations.'
The Interfax report states four of the plants each of which would have a 10 MW capacity would be built in the Republic of Bashkortostan, near the Ural mountains; six would be developed in Orenburg near the border with Kazakhstan; and two would be built in the Altai Republic of central-southern Russia.
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