RusHydro acquires controlling stake of geothermal developer in Kamchatka, Russia

RusHydro, through subsidiary Kamchatskenergo, has acquired a 51% stake in Geothermal Energy LLC, the renewable energy arm of Russian state-owned oil company Zarubezhneft. With this, RusHydro and Zarubezhneft will be working together on developing the 66.5-MW Mutnovskaya 2 geothermal power plant.

There are currently three geothermal power plants operating in Kamchatska, all under RusHydro:

• Mutnovskaya 1 (50 MW)
• Verkhne-Mutnovskaya (12 MW)
• Pauzhetskaya (12 MW)

With an expected capacity deficit in Kamchatka of 26 to 31 MW by 2030, the two companies are aiming to complete two new geothermal power plants. Aside from Mutnovskaya 2,  a 16.5-MW binary unit in Mutnovskaya 1 is also part of the plan.

According to RusHydro, design and exploration work for Mutnovskaya 2 is expected to be completed by the end of 2027. When operational, the power facility will help reduce fuel consumption by 172,000 tons per year.

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Source: Kommersant