Hevel Group has secured a 15 year power purchase agreement (PPA) with Kazakhstan Electricity and Power Market Operator (KOREM) for 70MW solar plant in the country. Commissioning of the plant is planned for 2019-2020.
Hevel Group CEO Igor Shakhray said: “This tender was a high competitive one and our victory means that we have entered an international market not only as PV modules supplier, but also as an power company competing with major international players. “CAPEX of solar power plants in Russia after the last bidding round is already at a competitive level and we will continue to decline it by investing in R&D, developing new advanced technologies and launching new products.” In the Republic of Kazakhstan auctions for the construction of renewable energy facilities are held on a regular basis since this year. In addition, the country decided to increase the share of RES in the energy balance up to 50% by 2050. Source: Company Press Release