Severstal increases stake in WRS Towers to boost presence in Russia’s renewable energy market

Tuesday, 14 September 2021 12:26:45 (GMT+3)   |   Istanbul
       

Russian steelmaker Severstal has announced that it has purchased an additional 24.5 percent stake in Russia-based joint venture WRS Towers from Russia-based JSC RUSNANO to strengthen its presence in Russia’s fast-developing renewable energy market. Severstal’s share in the joint venture has increased to 49 percent as a result. Spain-based Windar Renovables S. L., another partner in the JV, retains its 51 percent share.

WRS Towers was established in 2018 to support the growth of Russia’s renewable energy sector. Since its founding, the joint venture has produced more than 340 steel towers for wind turbines. WRS Towers reached its intended production capacity of 145 towers per year in 2020. To date, more than RUB 1 billion have been invested in the project.

Green power plants built using the WRS Towers’ equipment have been installed in the Kamensky, Azov and Verkhnedonsky districts of the Rostov region, as well as in the Murmansk region. WRS Towers also plans to supply products for export orders.

The steel billets for the wind power towers are manufactured at the service metal center in Kolpino, which is part of Severstal’s Russian Steel division. Severstal guarantees secure supply of raw materials for the project and high quality.


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