RDIF and partners invest in development of waste-to-energy recycling
Press release, 15.02.2018
Sochi, February 15, 2018 - The Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation), in cooperation with the Japanese-Swiss company Hitachi Zosen Inova, a world leader in thermal waste treatment, and RT-Invest, a company founded with the support of Rostec State Corporation, has agreed to implement "Energy from Waste", a project involving the construction of four waste-to-energy plants in the Moscow region and one in Kazan, the Republic of Tatarstan.
The total processing capacity of the plants in the Moscow Region will amount to 2.8 million tonnes of municipal solid waste per year, which will generate about 280 MW of electricity annually. With an installed capacity of 55 MW, the plant in Kazan will be able to recycle up to 550,000 tonnes of municipal solid waste per year. The implementation of the project will reduce the proportion of waste sent to landfill in the Moscow region by more than 25%. In Kazan, the project will enable an end to the use of landfill sites for the disposal of waste. The total cost of the project is estimated to be 150 billion rubles.
Kirill Dmitriev, CEO of RDIF, said:
"The involvement of Hitachi Zosen Inova as a strategic investor and the participation of our strong local partner RT-Invest will enable the implementation of an environmentally friendly and safe waste processing solution. The “Energy from Waste” project will be a major step towards the creation of an integrated waste management system throughout the country. It is critical that this project ensures that the development of technologies and production of equipment are adapted for the local economy to support the construction of similar facilities in the future."
Andrey Shipelov, CEO of RT-Invest, said:
"The group of investors involved in the "Energy from Waste" project is expanding. It now includes new world-class players, such as the Russian Direct Investment Fund, which has extensive experience in implementing strategic projects. The interest from large businesses in innovative environmental projects will help to create a transparent, civilized and, most importantly, integrated industry for handling municipal solid waste in Russia. This trend proves the necessity to create a new sector of the economy, which provides a full cycle of waste treatment: from separate collection, sorting and recycling of waste to thermal processing and energy generation."
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
The RT-Invest Group was established in 2012 with support from Rostec State Corporation to facilitate direct investments in advanced industrial technologies in Russia and abroad, including waste management, information systems, transport telematics and the production of building materials.
The company is working to create an integrated waste management system in Russia based on domestic technologies and the experience of countries leading the way in environmental performance.
Hitachi Zosen Inova is the world leader in the thermal processing of waste. For 80 years of its successful operation, the company has built more than 500 plants for transforming waste into electricity around the world. www.hz-inova.com
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Elena Garside
Tel: +44 (0) 20 7796 4133