Rosatom, a Russian state-owned nuclear firm has signed a wind project development agreement with the Government of Dagestan via its wind power division, NovaWind. The two parties have agreed to build renewable energy sources as well as wind power projects in Dagestan with a maximum capacity of 315 MW. The renewable energy projects are anticipated to increase regional tax income, reduce power shortages, and create jobs in the region.

Founded in 2017, NovaWind incorporates Rosatom’s expertise in wind energy generation, including mechanical engineering, design, and construction, as well as wind farm operation. The company currently has 720 MW of installed wind generating capacity and intends to increase this to about 1.7 GW by 2027.

In July 2022, NovaWind inked a cooperation agreement with An Xuan Energy to develop a 128 MW wind farm in Vietnam. The northwestern province of the country, Son La, would be the location of the envisioned wind farm. An Xuan Energy, a development and investment company established in 2017, focuses on producing hydroelectric, solar, wind, and biomass power projects.

REGlobal’s Views: Russia predominantly depends on fossil fuels for most of its energy requirements owing to massive reserves of natural gas, oil and coal. However, the country has been making efforts to increase its renewable energy production in the recent years to reduce emissions.