Today, at the Russian Investment Forum in Sochi, the Ministry for Industry and Trade of the Russian Federation, NovaWind JSC (the ROSATOM division responsible for renewable energy industry projects) and Red Wind B.V., a Russian-Dutch joint venture, have signed a Special Investment Contract (the SPIC) to implement the investment pro-ject for creating a manufacturing facility in the Russian Federation. The manufacturing facility will be used for wind turbine components assembly within the project for the construction of 610 MW wind farm and wind turbine manufacturing facility in Volgodonsk, the Rostov Region (Russia).

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The Minister for Industry and Trade Denis Manturov, CEO of NovaWind JSC Aleksandr Korchagin and the Head of the Russian branch of Red Wind B.V. Anton Kovalenskiy signed the document in the presence of the first deputy Minister for Energy of Russia Aleksey Teksler, the Governor of the Rostov Region Vasiliy Golubev and Director General of ROSATOM Aleksey Likhachev.

The project focuses on establishing manufacture of wind turbine generators and nacelles in the Russian Federation amidst stable environment for carrying out activities which is guaranteed on the side of the Russian Federation. NovaWind JSC will act as the project investor. The estimated cost of the project will be around 955 million rubles. The facility in Volgodonsk will create 254 jobs.

“Within the SPIC, we are planning to provide 580 sets of high-technology components for wind turbine construction. This equipment is to be used both for the current and future projects, including export programs. Due to the elaborated localization program, ROSATOM is expanding unique competencies for the production of generators for direct-drive wind turbines. We expect that the equipment manufactured in Volgodonsk will be competitive both on the domestic and international market,” Aleksandr Korchagin noted in respect of the contract execution.

The production will be carried out by Red Wind B.V., a joint venture of No-vaWind JSC and Lagerwey. The batch production capacity is expected to reach 96 sets per year. The production facility will further ensure sale of products for subsequent pro-jects or external orders.

Within the SPIC, the government provides for the following incentive measures: stable aggregate tax burden on income, stable requirements for industrial products manufactured under the SPIC to attribute them to products manufactured in the Russian Federation.