Hevel in 190MW double PV push in Russia, Kazakhstan

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The deal with the Krasnodar authorities was signed at the Sochi Investment Forum (Credit: Hevel Group)

Developer and manufacturer Hevel Group has made strides towards a scale-up in Russia and Kazakhstan, securing a deal to build in the former country and financing for projects in the latter.

Representatives from the Krasnodar administration rubberstamped this week a deal that will see the firm develop 100MW in PV projects in the territory, located in Russia’s southwest.

Signed at the Russian Investment Forum at Sochi, the agreement was followed by Hevel’s announcement that financing had been secured for a further 90MW of PV projects in Kazakhstan.

A long-term multi-currency credit line of €56.2 million, Hevel said, was provided by the Eurasian Development Bank (EDB) in support of plants set to be commissioned next year. The project will help Russia and Kazakhstan “deepen economic ties”, the EDB said.

Founded in 2009, Hevel markets itself as Russia’s largest integrated solar player. Since 2014, its PV development unit has built 274MW across various territories within the Russian sphere.

A second division takes care of module manufacturing – it will provide the Kazakhstan projects with heterojunction modules – from a plant at Novocheboksarsk, in the Chuvash Republic; a thin-film technology research centre in Saint Petersburg completes the firm's three-division operations.

Hevel’s announcements emerge one week after the firm signed a deal to develop a hydro-PV plant at the Nizhne-Bureyskaya site in the Amur territory, in Russia’s far east.

Over in Kazakhstan, the firm was amongst the winners of the country’s first solar auction last October, reaping 15-year PPAs for 70MW worth of projects.  

The European Bank for Reconstruction and Development recently breathed fresh life into Kazakhstan’s PV scene, announcing it would support plants of 100MW and 50MW alongside the Green Climate Fund.

6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.

Read Next

PV Tech Premium
June 9, 2021
Price increases in polysilicon and other auxiliary solar module materials have exerted much pressure on manufacturers, JA Solar has said, impacting on profitability in the first half of 2021. Xinming Huang, senior vice president at JA Solar, tells PV Tech how the company is responding.
PV Tech Premium
June 7, 2021
Soaring polysilicon costs have tipped the solar manufacturing industry to the brink of crisis and while only expected to be in the short-term, the ramifications in 2021 could be significant. On the sidelines of SNEC 2021, Carrie Xiao speaks to experts from across the value chain to determine how solar PV can tackle supply chain constraints.
Live
June 3, 2021
PV Tech reports live from the show floor at SNEC PV Power Expo 2021, bringing you exclusive video interviews, insight, analysis and product reviews. Today's videos include Sungrow FPV, Seraphim, Growatt and more.
PV Tech Premium
June 1, 2021
Liam Stoker explores solar’s role within the International Energy Agency’s net zero roadmap, charting its prospective journey to more than 14.5TW of installed capacity, a global and highly-skilled workforce and trillions of dollars of invested capital.
June 1, 2021
Renewables investor Magnora AG has said it will increase its investment in perovskite solar specialist Evolar, taking a 40.7% stake in the company.
June 1, 2021
JinkoSolar has achieved a new record efficiency for a large-area n-type TOPCon monocrystalline solar cell, taking its efficiency to 25.25%.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021