Rusnano Plans Thin Film Jv

Russia's state-run nano-technologies corporation, Rusnano, announced plans to form a JV with the UK's Renovo Group to produce thin film solar modules. A new company is to be established in the city of Novocheboksarsk in the Chuvash Republic. The company will engage in the entire cycle of production for solar modules, with a planned capacity of 1M solar modules per year, the equivalent of 120 megawatts (MW). "This is the most significant investment in alternative energy on the territory of the Russian Federation," Rusnano CEO Anatoly Chubais said. Total investment in the project is around US$638M.