Russian fund, GE sign memorandum on mini power plant projects
ST. PETERSBURG. June 21 (Interfax) - General Electric and the Russian Direct Investment Fund (RDIF) signed a memorandum of understanding Friday for a joint venture to cooperate in the construction of mini power plants for manufacturing facilities across Russia, RDIF said in a press release.
The joint project will focus on the construction of cogeneration systems of up to 25 MW to meet the increased demand for power of Russia's growing industrial sector, RDIF said.
The cogeneration systems will provide a direct supply of electricity and heat to large industrial companies and municipal entities. These systems will be independent from transmission lines and heating mains, and remain operational irrespective of failures in mainstream power supplies, RDIF said.
The memorandum was signed at the St. Petersburg International Economic Forum.
