Russia has begun attracting investment in solar energy by increasing the incentives it provides for renewable energy. The Chinese company Amur Risius, the Turkish company Pekintaş and German conglomerate Schmid Group have decided to jointly invest in solar energy and solar panel manufacturing in Russia. The companies will be investing in the Alibuga Free Zone located in the Autonomous Republic of Tatarstan.
Russia is now on the verge of an economic crisis since its relations with the West came to a halt after the conflict with Ukraine erupted, and also due to the drop in crude oil prices. While the Russian government is now focusing on productivity, it is also trying to take measures to increase savings and provide more incentives to draw more investors.
German, Chinese and Turkish companies will establish a 200 MWp turnkey solar battery and solar panel production facility, which will be completed within the next one-and-a-half years. Mikhail Molchanow, the CEO of Amur Systems' Russian Unit, Solar Systems, announced that the facilities will begin production in the first half of next year.
The Chinese energy giant Amur Sirius had previously announced that they will be focusing on solar energy in Russia and are willing to invest $1 billion, which is why they established the Moscow-based Solar Systems. After the government announced its projects on renewable energy in 2013, the company had entered into various tenders, winning the highest shares. Furthermore, the company has also won the tender for operating solar panel parks with a capacity of 175 MWp to be constructed between 2016-2018. While the company is also planning on participating in other solar energy tenders that will be opened this year and next year, it is also planning to sell panels produced at this facility to the world. Recently, the U.S. and the EU have imposed high taxes on Chinese-made solar panels. Therefore, Asian companies have started selling their panels produced in other countries such as Turkey to the EU and the U.S. under the "Made in Turkey" mark for cheaper prices. The facilities in Russia will also be able to sell panels to the EU and the U.S. under the "Made in Russia" mark.
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