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Dagestan company becomes participant of power industry market in Russia

05 May 2019 21:41 Posted in:  BUSINESS
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Makhachkala, May 5, 2019. Dagestan-based company EcoEnergy, which is engaged in the creation of the Samursky energy cluster, has successfully joined the “Market Council” of the electric power industry. This allowed it to sign the merger agreement and officially become an energy company.

At the regular meeting of the Supervisory Board of the Market Council Association, the entry of Dagestan energy company EcoEnergy into the full-fledged members of the electric power market of Russia was approved. On April 29, an agreement on joining the electricity market was signed.

“The entry into the market is a necessary step for the complete implementation of Samursky energy cluster project. This was preceded by a long conciliation work with the structures of the Russia’s Ministry of Energy. We are progressively moving in all directions and phases of the project launch, and the work continues. This step opens up a wide range of opportunities available to professional participants of the energy market for us. Besides, it is a positive signal for our investors” - EcoEnergy Executive Director Arthur Alibekov said.

EcoEnergy is the only Dagestan company that plans to build energy facilities in the Republic of Dagestan based on renewable energy. It creates the project of Samursky energy cluster, which should become the basis of the new image of Dagestan energy industry.

Samursky energy cluster is a complex of energy and industrial facilities based on the use of renewable energy sources (hydropower, solar, wind and geothermal) with a total capacity of 525 MW. The preparation for the project began in 2016 with research on the potential of renewable energy sources in the subjects of the North Caucasian Federal District. According to the results of research on a set of indicators, the experts recognized Samur region of the Republic of Dagestan as optimal for creating a comprehensive project.

The project is structured on the phased introduction of renewable energy facilities till 2030, working in a hybrid mode, which contributes to obtaining a synergistic effect from their integrated nature. At the same time, it is planned to create localized production facilities that allow replicating the concept of the energy cluster in other regions. The total investment into the 1st phase of implementation of the project is estimated at $ 200 million. Samursky energy cluster is designed to reduce the growing energy shortage of the Republic of Dagestan, to improve the water supply of the southern regions and the ecological situation, as well as to create jobs for the local residents.



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