Ulyanovsk region is implementing a project in solar industry

On 12 December, an investment agreement was signed between the Government of the Ulyanovsk region, the Ulyanovsk Region Development Corporation, Green Source Gmbh (Austria) and Core Value Capital Gmbh (Austria).


Sergey Morozov and the First Deputy Director General of the Ulyanovsk Region Development Corporation signed the agreement was reached during the visit of to the Republic of Austria.

Green Source Gmbh and Core Value Capital Gmbh will construct an enterprise in the Ulyanovsk region to produce PV modules for solar power stations with the use of advanced technologies.

“While developing regional strategy, we focus on development of alternative power engineering, which holds the key to the future. We have already done a lot of work in the field of wind industry by building a wind power cluster. It includes wind stations and plants for production of relevant components. We have also created educational facilities. The agreement with our Austrian partners is an important step in development of the solar industry, which is new for us. We start with production of components, and this means advanced technologies and unique competences. Yesterday we discussed creation of a            research and development center in the region. The investor will cooperate with Ulyanovsk Kvantorium and ULSTU, where we are planning to create a department to train necessary experts. Last week we met with Dmitry Kozak, Deputy Prime Minister of the country, and he supported this project. We expect to sign a relevant special investment contract next year”, – Sergey Morozov reported.

During the first stage, foreign investment into the project will make more than 1.2 billion rubles. It is planned to create 250 new jobs for inhabitants of the region.

Production of solar power components will be placed on the land plot of 3 hectares in the Port Special Economic Zone. The company is going to start construction of the plant and to manufacture its first products next year. The annual capacity of the enterprise will be 100 MW of PV modules a year. Considering growth prospects of the Russian market and the export potential, the company can increase its output up to 300 MW within the next 10 years.

The goods will be       shipped to the Russian solar power market. According to Sergey Vasin, Head of the Ulyanovsk Region Development Corporation, the project also has great export opportunities. “Investors are actively negotiating, and today we have already signed agreements with a number of countries in Central Asia and Latin America to supply them with products manufactured in Russia. We expect that the company will become one of the key exporters of the Ulyanovsk region”, – Sergey Vasin said.

During the visit to the Republic of Austria, the Governor Sergey Morozov offered Green Source Gmbh and Core Value Capital Gmbh to become honored guests of the ARWE 2019 International Renewable Energy Forum, which will take place in Ulyanovsk in May next year. After the negotiations, they confirmed their participation in the event and expressed their willingness to hold a special solar power workshop.

As a reference:

Green Source is a Vienna-based company founded in 2006 that specializes in the development, implementation and operation of ground mounted photovoltaic projects in Central and Eastern Europe. The company consists of a multidisciplinary team of bankers, consultants, project managers and engineers with comprehensive experience in the Central and Eastern European markets. So far Green Source has developed, built and sold 164 projects with the total capacity of more than 338.1 MWp, having become one of the leading photovoltaic developers in Europe. 

The project for construction of solar power stations (SPS) with the total capacity of 60 MW has been implemented in the Astrakhan region since 2018. Half of these stations have already produced green energy. In 2019, it planned to build a 75 MW SPS in Siberia.