The construction of small hydroelectric power plants has begun in Karelia. The ceremony to dam the Kem River took place at the construction site of the Beloporozhsky HPPs.
This is the first project in Russia funded by the BRICS New Development Bank (NDB). The Eurasian Development Bank and the International Investment Bank also contributed to the construction, while the Russian Direct Investment Fund and China’s Sinomec invested in the share capital. Total investments reach RUR 12 bln ($189 mio).