Russian Firm, GE In JV To Build Gas Turbines: Report
By Jack Burke01 October 2020
Russian energy holding company InterRAO plans to invest US$580 million in a gas turbine joint venture with GE, according to reports from Reuters.
Currently, Russia does not produce medium or large capacity gas-fired power turbines domestically.
According to Inter RAO strategy head Alexey Maslov, the investment in the joint venture will pave the way for launching production lines in the country. Inter RAO will hold a 51% stake in the joint venture project.
The joint venture has set a target to manufacture gas turbines with 79 to 87 MW and 181 to 210 MW capacity by 2025-2026. It also aims to produce at least 90% of these locally, Reuters reports.
Maslov said demand for such turbines is expected to increase after 2030. InterRAO hopes to sell 20-25 of these turbines.
Siemens and Ansaldo are also developing joint projects with other Russian firms to produce gas turbines in the country with high power capacity, according to the report.
The Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business.
The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market, and Russia’s leading electric utility by energy efficiency. Inter RAO Group owns and operates approximately 30.9 GW of installed power generation capacity.