RDIF and partners invest in RT-Invest "Energy from Waste" project
Moscow, July 15, 2019 - A consortium of investors, including the Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) and leading Middle Eastern sovereign wealth funds, today announces investments in a project implemented by RT-Invest to construct waste-to-energy plants.
The “Energy from Waste” project involves the construction of four plants in the Moscow region. The total processing capacity will amount to 2.8 mn tonnes of municipal solid waste (MSW) per year, which will enable the plants to generate approximately 280 MW of electricity annually. Investments by RDIF and partners will be used for construction works and the purchase of the necessary high-tech equipment.
The commissioning of the plants is planned for 2021-2022. The project will help reduce the share of MSW disposal in the Moscow region by 30%. The new infrastructure’s construction is in accordance with strict international standards and will help Russia’s emerging waste management sector achieve its primary goal of zero waste to landfill.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“The investments made by RDIF and our partners in RT-Invest’s project are aimed at implementing the tasks set out by the national project “Ecology”. The new plants will help improve the efficiency of waste processing and create additional energy generating capacity. They will also be able to apply best practices in the sector, with the potential of further deployment across the Russian regions”.
Andrey Shipelov, CEO of RT-Invest, said:
“The urgent need to address environmental issues has led to a growing interest in innovative Russian projects from international businesses. Cooperation with international partners helps to introduce the most advanced and science-driven technologies to the waste management industry. These investments from our international partners are testament to the project’s quality, highlighting its environmental characteristics and compliance with international quality standards”.
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. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB 1.5 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn. Further information can be found at www.rdif.ru
JSC “RT-Invest” was established in 2012 with support from the 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 construction materials. The key focus of the company is the creation of an integrated waste management system in Russia based on domestic technologies and the experience of developed economies. RT-Invest is the leading regional waste management operator in Russia. As part of the “Energy from Waste” project the company plans to construct four waste-to-energy plants in the Moscow region and one plant in the Republic of Tatarstan. The plants in the Moscow region will process 2.8 mn tonnes of waste per year to generate 280 MW of electricity. The plant in Kazan will have an annual capacity of 550,000 tonnes of waste, generating 55 MW of electric power. The total investments in the project will exceed RUB180 bn.
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Leach / Maria Shiryaevskaya
Tel: +44 (0) 20 7796 4133