Enel Green Power (Italy) is beginning construction of the largest renewable energy project beyond the Polar Circle, in the Murmansk Region.
The new facility, Kolskaya Wind Power Plant, will have a capacity of over 200 MW. The project was designed by a company of the Enel Group that specializes in green (renewable) energy. Enel bought assets in Russia (OGK-5) during a reform of RAO UES conducted by Anatoly Chubais. OGK-5 was later renamed Enel Russia.
The new wind farm will cost over EUR 270 mio and will be completed in 2021.
“Enel Russia won a tender of the Russian Energy Ministry for building a wind farm in the Murmansk Region and the Rostov Region a couple of years ago,” commented commodity market analyst Dmitry Aleksandrov. “The total amount of investment is expected to exceed EUR 400 mio. Additionally, the company recently obtained a permit to build a wind farm in the Stavropolsk Territory, with investment close to EUR 100 mio.”