Rosatom to Acquire First Renewable Energy Projects Abroad This Year

Rosatom, Russia's state nuclear corporation plans to acquire its first renewable energy projects abroad this year, the group's civilian nuclear industry arm, Atomenergoprom (AEP) said in its annual report.

"Plans for 2024 include securing the first deals to acquire projects outside the Russian Federation," the report said.

The "target portfolio set by the international strategy is 5 GW of installed renewable energy capacity (wind and solar power) abroad in 2030," the report said. This includes both onshore and offshore wind farms.

The company aims to have a portfolio of foreign projects totalling 700 MW by 2025. Its target markets are countries in Southeast Asia, Africa and the CIS.

In Russia, Rosatom's nine wind farms have combined capacity of 1 GW and this figure is expected to increase to 1.7 GW by 2027. AEP estimates its share of total wind farm capacity in Russia at 40% following implementation of projects.