Russian investors in renewable energy not abandoning projects, but could see delays of 1-2 years - REDA

MOSCOW. March 24 (Interfax) - The Russian Renewable Energy Development Association (REDA) is not seeing investors abandoning projects amid recent developments, but they are restructuring them, REDA director Alexei Zhikharev said at the Power Grids International Forum.

"At the moment, not a single company that is a member of the association has declared their refusal to implement their projects," he said, adding that he does not see statements by foreign companies about the suspension of new investment in Russia has an abandonment of projects.

"It's just that at the moment many companies are carrying out restructuring of projects, changing suppliers, changing financing conditions, among other things. This process should take some time, but confidence remains that all projects will be implemented, even if with a delay of a year or two," Zhikharev said.

REDA members include key market players, such as Rosatom wind power division Novawind, Hevel Group, Enel Russia , Fortum , Solar Systems, Rusnano and Vestas Rus LLC, a division of Danish equipment supplier Vestas, which is a technology partner of Fortum that has announced the suspension of operations in Russia.