Tata Power to invest $500 million in Russian solar

Share

Tata Power, one of India's largest integrated power companies, is teaming up with the state-run Russian Direct Investment Fund (RDIF) to invest up to $1 billion in solar and other renewable energy projects across Russia.

The Russian government established the $10 billion RDIF in 2011 with the aim of making equity investments in high-growth sectors in the Russian economy.

Tata and RDIF plan to contribute an equal amount of $500 million each to the investment.

Details of the future projects have not yet been disclosed but according to an official representative of the Russian Ministry of Industry and Trade, there is a possibility that solar power stations may be built in different regions of the country, particularly in those with the highest number of sunny days. Likely regions include Rostov Oblast in southwestern Russia, the Dagestan and Kalmykia Republics and some other southern regions. In addition, solar power plants will be built in the Far East, Far North, the Baikal region and other remote regions where the use of traditional energy sources is usually more expensive than the use of renewables.

Popular content

The exact list of Russian regions where solar power plants will be established will be completed at the beginning of 2015.

In the meantime, the Russian government has already promised the investors tax incentives and other benefits for the project.

RDIF CEO Kirill Dmitriev praised Tata Power's rich expertise in the solar industry and other renewable energy sectors and did not rule out the possibility of implementing joint projects in India.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.