Russia has launched a tender to award contracts for 1.9GW of wind power capacity, which is claimed to be the biggest auction ever for renewable energy projects.
The renewable energy sources (RES) tender will be held in two phases between 29 May and 9 June 2017.
According to Russia’s NP Market Council, the results of the renewable energy auction will be announced by the end of next month.
The tendering for projects will cover a five-year period from 2018 to 2022.
Russia is expecting the tender held under the Wholesale Electricity and Capacity Market will create several jobs for its citizens along with foreign investments.
The first phase of the auction will be held from 29 May to 2 June which will be a prequalification stage while the second phase will be from 5 June to 9 June.
On the first day of the auction, the authorities had received 450MW applications, reported the Russian Association of Wind Power (RAWI) citing information from the Administrator of the Trading System.
Finnish energy developer Fortum has been reported to bid for the bulk of the renewable energy projects on offer.
RAWI had previously revealed that Fortum had already registered to provide up to 1.4GW of energy in Russia. The association further added: “It can also be assumed that the remaining 500 MW can be “divided” between potential market participants -JSC OTEK of state holding SC Rosatom, German development company SoWiTec and other market participants.”
As per the RES tender, 250MW of renewable energy capacity will be commissioned next year, 300MW for 2019, 350MW for 2020 and 500MW each to be commissioned for 2021 and 2022.