Rising Investments In The Russian Solar PV Industry

RUSNANO's
Supervisory Council has recently approved the corporation's participation in a
project to produce thin-film modules, the biggest investment in renewable
energies on the territory of the Russian Federation ever.

A new
company with target capacity of 120 MW per year, is to be established under the
project at Khimprom's industrial park in the city of
Novocheboksarsk in the
Chuvash
Republic.

The core
participants in the project are RUSNANO and RENOVA Group and total investment in
the project is 20.1 billion rubles (over 600 mln €).  The
production of modules will involve the latest cutting-edge thin-film
technologies developed worldwide by Swiss company Oerlikon Solar.

Earlier
this year RUSNANO's Supervisory Council approved
participation in the Nitol project aiming to construct
Russia's first large-scale complex producing polycrystalline silicon and monosilane.

The high technology production complex is
to be created under the auspices of NITOL enterprises: Usoliye-Sibirskiy Silicon and Usoliekhimprom, located in Usolie-Sibirskoe, Irkutsk region.

The first stage of
production has already been launched in December 2008 with 300 tons of output
per year in test mode. The core operations with output of 3500 tons per year are
set to be running by the end of 2009. The monosilane
production with a total yearly output of 200 tons to be reached will be started
stage by stage. The total amount of RUSNANO's
investment in the project is set at 7.5 billion rubles
(over 170 mln €)**.

Further investments in the
Russian Solar PV Industry are in the pipline.


We are glad that the above projects will be presented at “Rising
Opportunities - 1st Conference on Solar PV in the New EU members states, Greece,
Turkey, Russia and CIS”, under the High Patronage of Prof.
Zhores. I. Alferov, Nobel
Prize Laureate, which will be held on May 29, 2009 in Munich, within the
program