Russian state energy holding InterRAO plans to invest up to 45B roubles ($580M) in its gas turbines joint venture with General Electric (GE +2.4%), as the Russian market begins modernizing a quarter of its thermal power capacity.
While the country does not yet produce its own medium or large capacity gas-fired power turbines, Moscow wants this type of power equipment produced locally.
By 2025-2026, their joint venture will be producing gas turbines with the capacity of 79-87 megawatts and 181-210 megawatts with at least 90% of these produced domestically.
InterRAO hopes to sell 20-25 of these turbines by the end of the decade and sees demand rising further after 2030.
