Russia will increase production of efficient solar panels

23 Aug 2016

The RUR 3.8 bln solar modules production modernization programme in the Chuvash region (Russian Federation) will receive editional RUR 300 mln investment from Found for Industrial Development (FID).

The programme is aimed at increasing the annual production volume by 64% and reaching 160MW of  total capacity and 20% efficiency. The project with a 2.5-year payback period  is performed by Hevel.

Nearly one third of products are supposed to be exported primarily to the CIS, Asian, African and Latin American countries.

As for the local market the target regions are Orenburg, Saratov, Omsk regions; Altay and Bashkortostan Republics and Zabaykalskiy Kray.

According to the Hevel, the project's localization is estimated at 70%, with inventors and solar modules produced in Russia and only solar cables imported. The company analysts state that the total market share of solar power generation is 1500 MW, while the company itself plans to provide one third of this volume by 2020.

At the same time the Government strategy for solar energetics development by 2020 includes construction of solar power plants that will produce additional 1500 MW which will double the market. 

The global leader in production of solar power is China where total volume reaches 43 000 MW (2015).

Source: Expert Online

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