The government of the Russian Republic of Karelia and China State Energy Engineering (Sinomec), a Chinese company, agreed to build a windmill electric generating plant in the region, the press office of the head of the Republic announced.
The project is estimated at 9 billion rubles ($138,5 million).
“Construction of an offshore wind farm with a capacity of 60 MW is planned to be implemented in the Kemsky region. An approximate total amount of financing will be up to 9 billion rubles. The term of the project’s realization is between the years of 2017 and 2020,” the statement reads.
Chinese Sinomec intends to take part in the project financing jointly with the Russian Direct Investments Fund.