Rosnano and Renova link up on solar batteries
Published: 20 May, 2009, 14:43
TAGS: Investment, Manufacturing, Markets, Russia and the global economy
State Corporation, Rosnano, and the Renova Group have joined together to produce solar batteries in a 20.1 billion Rouble project at Novocheboksarsk, using technology developed by Swiss firm Oerlikon Solar.
Work on the project is expected to commence in the third quarter of this year, with the facility to become fully operational by the end of 2011. It will produce solar modules using silicon based thin film technology developed by Oerlikon Solar, with production expected to reach 1 million modules per year, equal to a generating capacity of 120 megawatts.
The joint venture will see Rosnano with a 49% stake, and Renova with 51%, with Renova’s subsidiary, Avelar Energy Group, conducting sales. The initial focus is expected to be the European market, but longer term projections envisage up to 15% of sales in Russia.
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