Russia’s Yakutia Republic announces wind investment

• 9 years ago (2014-07-14)
• Junior Isles

Europe 1061 Renewables 752

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The government of Russia’s Sakha (Yakutia) Republic in Siberia has announced plans to invest up to RUB 3 billion ($100 million) in the development of new wind power projects.

Yakutia Prime Minister, Paul Marinychev, has said the funds will be invested as part of a programme to extend the development of wind power and other renewables in the autonomous republic until 2016. Yakutia President Yegor Borisov has apparently approved the expenditure.

President Borisov claims that the main obstacle to wider adoption of wind power in Yakutia has been the past lack of a coherent legal framework which guarantees a return on investments.

Borisov said there was certainly a need for more wind power projects and that the new facilities should replace existing diesel power plants in remote parts of far east Russia, which have high operational costs.

Currently the cost of small-scale diesel in Yakutia is around RUB 20-40 ($1-2) per kWh.

The Yakutian government estimates that 70 per cent of all wind power plants scheduled for construction in the Russian Far East up to 2016 will be built in Yakutia.

Several wind projects are expected to be commissioned in Yakutia over the coming months by RAO Energy System of East (RAO Energy), eastern Russia’s largest supplier of heat and electricity.

RAO Energy revealed last month that it would be considering an investment of up to $200 million for wind power in eastern Russia by 2016-2017.