Rusnano, Renova may merge solar power projects in 2014
MOSCOW. Nov 25 (Interfax) - OJSC Rusnano and the Renova group may merge solar panel manufacturer Hevel and Avelar Solar Technology by the end of 2014 and are negotiating the process, Rusnano CEO Anatoly Chubais told the press after a conference on renewable sources of energy in Moscow on Saturday.
"After Hevel, which will produce solar panel modules, the next step [in technology] is needed - we need somebody that will set up actual power plants," Chubais said. "Avelar is the country's clear leader in terms of the number of projects implemented, including in Europe. In that sense this is our natural partner."
Rusnano has a preliminary agreement with Viktor Vekselberg's Renova, which owns Avelar, to merge the Havel and Avelar projects following a market evaluation. "Then we obtain a producer and integrator together," Chubais said. "I think it will happen before the end of next year." The way the companies will be merged has not yet been determined.
Avelar Solar Technology was established in 2011 by Swiss company Avelar Energy Group, which is part of the Renova group. The company was set up to promote solar panels and solar power projects in Russia and the CIS.
