Russia - Siemens targets Russia and starts forJV

Siemens has signed a partnership agreement for cooperation in the renewable energy sector with the two Russian companies Rostechnologii and RusHydro. The three companies have decided to jointly set up a venture, in which Siemens will retain the majority stake. Exact details weren’t disclosed.

The planned joint venture is to set up production facilities for wind turbine components for the Russian market and will also be responsible for sales and service of Siemens wind turbines in Russia and other countries. As per the information available, components for the turbines will be produced at a factory in the Volgograd region, which will be opened next year, said Sergei Chemezov, head of state corporation Russian Technologies.

According to René Umlauft, CEO of the Renewable Energy Division of Siemens, Russia is planning to have a wind power capacity of approximately 5000MW installed by 2020. Russia recently launched an initiative recently to lift the country’s minuscule share of renewable energy to 4.5 % of total energy production in the next 10 years. The plan foresees the installation of 5,000 MW in wind energy capacity, worth about €5bn, according to an Financial Times report.

“In the coming five years, we intend to install wind turbines with a total capacity of 250MW to 500MW per year,” Umlauft said. Siemens has decided to bring three further factories for production of wind turbine components on line in the US and in China. Other production facilities are planned for India and Great Britain.

For more information please contact Trevor Sievert at ts@windfair.net