Memorandum on the Assistance of the Government of the Samara Region with the Construction of the Samara Solar Power Plant

12.12.2016

December 12, 2016 the First Vice-Governor — Chairman of the Government of the Samara Region A. Nefedov, Acting Head of the Urban District Novokuibyshevsk S. Markov and the Chief Executive Officer of the Samara Solar Power Plant V. Dikop signed a memorandum on cooperation, thereby formally confirming the interest of the regional and local authorities in the construction of a solar power plant in Novokuibyshevsk. Up to 10 billion rubles is to be invested in the region as part of the project.

The project will serve as a powerful boost to the development of renewable energy sources in the Samara Region. After the new solar power plant achieves full capacity operation (75 MW of installed power), the regional budget will get tax revenue of about 400 million rubles per year. The Samara solar power plant will supply electricity to more than 90,000 residents in the region.

As part of the construction of the solar power plant 300,000 250W photovoltaic moduls are to be installed, which will collect solar radiation at an optimal angle and supply over 80,000 MWh per year to the grid. The target reduction in CO2 emissions is about 18.5 thousand tons per year. The participants in the negotiations noted that cooperation between the Samara SPP and the Government of the Samara Region on energy holds a lot of promise and is bound to attract new investments to the region, which will lead to the creation of new jobs and improve the stability of the energy hub and the local ecosystem.

The project became one of the winners of the second competitive selection of investment projects involving the construction of generation facilities based on renewable energy sources for 2015-2018, which was held by JSC Trading System Administrator as part of the implementation of the Russian Government Decree No. 449 dated May 28, 2013 On the Mechanism to Promote the Use of Renewable Energy Sources in the Wholesale Market of Electric Energy and Power.

Solar Systems, LLC was established  in March 2014 for the purpose of construction and operation of solar power plants on the territory of Russia. The company is currently implementing projects in Samara and Astrakhan Regions. Solar power plants in Volgograd Region, Stavropol Krai and the Republic of Kalmykia are planned to be constructed in the next two years. Due to commissioning of 10 solar parks, total installed capacity of power systems of these regions will increase by 240 MW. Cumulative investments will surpass 32 billion rubles.