The Segozerskaya hydroelectric power station construction will start in Karelia

An investment project for the construction of the Segozerskaya HPP will be implemented in the republic. The investor is one of the largest Russian energy companies “EuroSibEnergo” (part of the En+ Group). The Government of the Republic of Karelia concluded a cooperation agreement with the company for the implementation of the investment project on July 31. 

The hydroelectric power station with a capacity of 8.1 MW will be built on the left bank of the head of the Segezha River. The En+ Group's investments in the project will amount to about 1.4 billion rubles. In return, the Government of Karelia will assist in the project implementation. 

“Implementation of new projects in the field of renewable energy is an important element of the development strategy of the Republic of Karelia. The Segozerskaya HPS construction will provide the region with new high-tech jobs and, eventually, will reduce the cost of electricity for the population," noted the Head of Karelia Artur Parfenchikov.

The construction of the Segozerskaya HPP will provide Karelia with an additional source of renewable energy, increase the reliability of power supply, create about 100 new jobs (both during construction and operation), provide additional demand within the region for construction and installation organizations and manufacturers of materials and equipment, and will also allow to increase the tax revenues to the budget of the republic.

“We are grateful to the Republic of Karelia management for their help in the project implementation. We are planning to start construction work in the third quarter of 2020, so that by the end of 2022 we will start generating clean electricity in the region grids,” commented Mikhail Khardikov, head of the energy business at En+ Group, on the signing of the agreement.

En + Group is the world's largest independent hydro-generating company which assets portfolio includes HPPs with 15,1 GW combined installed power capacity.

In 2019, the company conducted a study of promising projects and formed a portfolio with a total installed capacity of about 200 MW. Their implementation within the framework of various mechanisms for supporting the development of renewable energy sources is currently being analyzed.