Russia’s largest private power supply company, Integrated Energy Systems Holding (IES), is to build a 25MW solar power plant, according to local reports.
IES is investing RUB 3 billion (US$94 million) to build in the Orenburg Oblast city of Orsk, in south-western Russia. The region has been reportedly chosen because of opportune climate conditions.
The 25MW solar power plant was agreed as part of a ‘Zakrytoe Aktsionernoe Obschestvo (ZAO)’ – or closed joint stock operation, named “KES” – following a meeting between Governor George Berg and IES president and director of ZAO KES, Boris Vainzikher, according to local news outlet Energo.
The solar power plant will begin construction in 2014 and is scheduled to launch in 2015.
In May Russia signed a decree for solar subsidies, as part of the government’s goal to generate 2.5% of the country’s power from renewable sources by 2020, 2GW of which is expected to come from solar.