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30 November 2017

Hevel Group Sells Three Solar Power Plants to Fortum

Hevel Group entered into a purchase agreement with Fortum for three solar power plants in Russia with 35 MW installed capacity. The transaction is expected to be closed before the end of the year.

The Pleshanovoskaya (10 MW) and Grachevkaskaya (10 MW) power plants are situated in the Orenburg region and the Bugulchanskaya (15 MW) power plant in the Republic of Bashkortostan. All three power plants are already operational and receiving CSA-payments for approximately 15 years after commissioning. The plants were commissioned in 2016 and 2017. Hevel Group will continue to provide operation and maintenance service at all three power plants according to the service agreement.

"Hevel Group has built a 164 MW of solar power plants on the territory of Russia, and is planning to commission around 1 GW of solar generation by 2024 – said Hevel Group’s CEO Igor Shakhrai. – This deal is a logical step in implementing our long-term strategy. In addition, today we are the only company in Russia, which has significant experience in the solar plants operation in different climatic conditions, and here we see another area for development".
Based on Fortum's strategy the target is creating a gigawatt-scale solar and wind portfolio. Fortum's ambition is to make selective investments in renewables building on its competences and technical know-how. 

In 2017 the total volume of the solar on the Russian wholesale market is 224 MW. The largest solar power plants are located in the Orenburg region, Bashkortostan and Altai republics. In 2018-2023 additional 1,5 GW of solar power will be added to the wholesale market.