Bright
Capital Management, one of Russia's largest investment funds, is partnering with
leading Russian solar developer
Energy of the Sun to invest up to RUB 10 billion ($300 million) in the
construction of six solar energy plants in Russia's Astrakhan region with a
combined capacity of 90 MW.
The
new solar power plants will be
built in Narimanov, Volodarskiy, Enotaevsky and other districts of the region,
while their commissioning is scheduled for the end of 2015. The plants are
expected to reach a total capacity of 90 MW.
According
to Bright Capital managing partner Michael Chuchkevich, Energy of the Sun has
the rights for the construction of 105 MW of solar capacity in the
Astrakhan region and an estimated 435 MW for the whole of Russia.
The
planned projects are among a number of solar endeavors announced in recent
months by Russian companies.
Earlier
this year, Yelena Baturina, the wife of former Moscow Mayor Yury Luzhkov,
announced plans to invest €10 million in the development of solar energy in
Italy and other countries in the south and south-east Europe.
Russian
analysts predict bright prospects for the development of solar energy in the
country. This is confirmed by the results of a recent tender for the
construction of solar power plants in the 2015 to 2018 period, which resulted in
application submissions for a total of 785 MW of capacity.
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