Windar Renovables, Rusnano and PAO Severstal are setting up a joint venture to manufacture steel towers for wind turbines in Russia.
The €9.4m JV, known as WRS Bashni, will build towers in the Rostov region of the country.
Spanish outfit Windar Renovables will hold a 51% stake in the venture, with the other two partners having 24.5% each.
Windar will supply the technology to build the towers and Severstal supply the steel plate. Towers will be up to 120 metres in height, with a weight of up to 270 tonnes.
Initial clients will be a joint venture between local developer Rusnano and Finnish outfit Fortnum and a subsidiary of the JV called Vetroparki FRV.
Severstal chief executive Alexander Shevelev said: “Wind power accounts for a growing share of the world’s electricity generation, and we are seeing the beginning of this trend in Russia as well.
“This project will enable the company to start supplying steel to an attractive new market and be part of a new value-added product segment. Severstal plans to extend its activity in this area to support the development of further wind power capabilities in Russia.”
Rusnano perspective energy projects unit head Alisher Kalanov said: “We estimate that products manufactured by WRS Bashni will contribute to more than half of the Russian wind energy market.”
Windar Renovables general director Justo Acedo said: ”We are very confident with the wind energy and its developing in Russia Federation. This new factory will increase the production capacity of the Rostov Region with a new technology and know-how imported from our factories around the world.”