Enel Russia Enters The Renewable Sector With 291 MW of Wind Capacity Awarded

Published on Wednesday, 14 June 2017

  • Enel Russia has been awarded two projects, of 201 MW and 90 MW respectively, in a public wind power tender

  • Overall investment in the two wind farms amounts to approx. 405 million euros and plant construction will be carried out by Enel’s renewables arm, Enel Green Power

 

Moscow, June 14th 2017 – PJSC Enel Russia (“Enel Russia”) has been awarded two wind projects for a total capacity of 291 MW within the framework of the 2017 Russian government tender for the construction of 1.9 GW of wind capacity in the country. The two projects will be developed and built by Enel Green Power, Enel’s global renewable energies division.

“We are very pleased to announce that following the results of the renewable tender held in Russia, our company has been awarded a right to build 2 wind projects with overall capacity of 291 MW. This is the first time that Enel Russia took part in such a tender, so this award marks a significant milestone for the company. This investment decision hallmarks a new era of our development and will allow the company to keep pace with the country’s renewable energy development plan”

– Carlo Palasciano Villamagna, General Director of Enel Russia

The overall investment in the two wind farms amounts to approximately 405 million euros. The two plants will sell their energy in the Russian wholesale market and will be supported by capacity payments released by the Russian Government.

The Azov wind farm, which is expected to enter into service by 2020, is located in the Rostov region, in Southern Russia, and will have a 90 MW installed capacity, generating around 300 GWh per year and avoiding the emission of around 99,200 tonnes of CO2 into the atmosphere.

The Murmansk wind farm, located in the Northwestern Russian region bearing the same name, is expected to enter into service by 2021 and will boast a 201 MW installed capacity, generating around 730 GWh per year and avoiding the emission of around 241,400 tonnes of CO2 into the atmosphere.

The tender was launched by the Russian government to achieve its targets of 4.5% of energy generation from renewables and 5.5 GW of installed renewable capacity by 2024.

An Enel Group subsidiary, PJSC Enel Russia operates the following power plants: Konakovskaya GRES, Nevinnomysskaya GRES, Sredneuralskaya GRES and Reftinskaya GRES. The company’s total gross installed electrical capacity is 9,428.7 MW (equivalent to 8,878.4 MW net installed capacity) and thermal capacity is 2.382 Gcal/h. PJSC Enel Russia’s authorised capital is 35,371,898,370 roubles, which is divided into ordinary shares with a par value of 1 rouble. The Enel Investment Holding B.V. share in the company’s authorised capital is 56.43%, PFR Partners Fund I Limited’s share is 19.03%, Prosperity Capital Management Limited’s share is 8.23%, VTB Bank’s share is 3.87% and other minority shareholders’ share is 12.44%. PJSC Enel Russia shares are listed in Level 1 MICEX quotation list. The company was established in Yekaterinburg on October 27th, 2004 as OJSC OGK-5. On July 7th, 2009 by the resolution of Annual General Shareholders’ Meeting the company was renamed OJSC Enel OGK-5 and on August 8th, 2014 the Federal Tax Service registered the new version of the company’s charter with the name OJSC Enel Russia. On June 25th, 2015 the company changed its legal type and was renamed PJSC Enel Russia.