MOSCOW, May 20 (RIA Novosti) – Chinese power giant Dongfang Electric plans to invest up to 78 billion rubles ($2.3 billion) in the energy projects of Russian power holding RAO EES Vostoka in Russia’s Far East, the Russian company said Tuesday.
Dongfang Electric plans to finance the construction of a gas-turbine power unit at the Vladivostok power plant. The companies have also agreed to collaborate in fixing, technically upgrading and renovating the existing generating units, as well as in the Far Eastern power service complex.
The two countries will also work together to develop solar energy in the Yakutia region.
RAO EES Vostoka, which belongs to RusHydro, one of Russia's largest power companies, has four construction projects in progress in the Far East, including plants in Yakutia, Blagoveshchensk, on Sakhalin island and in the city of Sovetskaya Gavan.
The company's power plants have a total capacity of more than 9,000 megawatts and a thermal capacity of nearly 18,000 gigacalories per hour.