Rosnano will burn waste with Rostec
Rosnano intends to create another green energy development fund including Rostec’s RT-Invest fund for the construction of WFPP. The investment partnership will cost 8bn RUB. 20% of project funds will be invested by the partners, with remaining 80% attracted from banks in 2018. By analysts estimates, Rosnano will help Rostec to attract financing, and will receive guarantied ROI.
Rosnano will join RT-Invest within the project for the construction of WFPP in Russia, as informed by Anatoly Chubais, Rosnano. “If we sign the agreement with Rostec, we shall grow into a number 1 MSW market player,”— he said.
Russian WFPP gain support by means of electricity supply agreements for RES (RES ESA). According to RES ESA, 50% of WFPP payment is covered by the wholesale market, while another 50% — by regional consumers. This June, RT-Invest won the contest on the construction of the first range of WFPP— four in the Moscow region and one in Tatarstan (335 MW). RT-Invest has also initiated the construction of the second range of WFPP (510 MW) — in the Moscow region, Sochi, Minvody and Taman. Alexander Khloponin, Vice Premier, has already approved the initiative, but the regulators discuss finance tools: the energy market opposes full compensation of WFPP costs.
Rosnano plans to invest in the first range of plants now. The investment partnership is to be registered soon, with all legal documents confirmed and to be signed before the end of September. The signing of RES ESA and start of construction activities are also scheduled for September. Rosnano’s main interest to the project is associated with reducing the landfill site emission technologies in Russia. Anatoly Chubais added that RES market will reach 1tn RUB, if 2018 tenders considered.
RT-Invest explained that Rosnano will become a financial and engineering project investor. Th engineering project partner will be the japanese Hitachi Zosen Inova.
Rosnano already runs two green energy projects: JVs with Fortum Fund intending to build and operate wind farms (up to 1 GW) and with Renova for the construction of solar plants. By estimates of Vygon Consulting, Rosnano’s engagement in the project strengthens the alternative energy segment presence, and creates a scaling effect. Cooperation of two majors extends the opportunity of access to banking and national programmes’ sources.