20 Mar 2019

RDIF and Aggreko announce strategic partnership on microgrids

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RDIF and Aggreko announce strategic partnership on microgrids

The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and UK’s Aggreko, a world leader in providing power, heating and cooling, have agreed to cooperate on the development of microgrids. The parties plan to invest in the construction of facilities that will provide uninterrupted power supply and temperature control to industrial enterprises and utilities in the Russian regions. The project is implemented under “the Order On National Goals and Strategic Objectives of the Russian Federation through to 2024” that has the development of distributed power among its goals. The agreement was announced today during a meeting between Russian President Vladimir Putin with the British business community.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“The partnership with Aggreko is designed to secure the location of advanced technologies for distributed energy in Russia, ensuring a continuous power supply for companies from various sectors of the economy. It will make it possible to increase production efficiency and create additional opportunities for development, primarily in remote areas. This will enable the implementation of one of RDIF’s main investment objectives - the development of Russian regions”.

Chris Weston, CEO of Aggreko plc, said:
“The partnership with RDIF aligns with Aggreko’s strategy working at the forefront of a rapidly changing energy market to deliver efficient, technologically complex and affordable solutions to our customers. By reducing the cost of electricity and heating, businesses, authorities and households can free resources to fuel growth in Russia. The development of distributed power, particularly in isolated and remote territories, is one of the main infrastructure development priorities for the Russian Federation as per President Vladimir Putin’s “May 2018 Decree” and Aggreko are very much excited to participate in this development, which we know will make a positive impact on the local businesses and community."