Renewable energy sources

Business diversification is a key element of strategic planning and creating a balanced asset portfolio. The development of renewable energy sources (RES) is a promising area for all energy companies.

The goal of Zarubezhneft in the direction of renewable energy is to carry out international expansion and develop its own competencies in this area as an accompanying business.

The Competence Center for Alternative Energy, created in the company, makes it possible to implement core projects in the area of renewable energy sources with a planning horizon for the medium term.

At the pilot stage of developing competencies in renewable energy sources, Zarubezhneft built and put into operation several solar power plants (SPP) for the own needs of assets in the Republic of Srpska (Bosnia and Herzegovina) and the Orenburg region. These plants generate more than 2.4 million kilowatt-hours of clean energy annually.

Currently, a project is under implementation for the construction of wind power plants (WPPs) for two subsidiaries, RUSVIETPETRO and ZARUBEZHNEFT-dobycha Kharyaga, in the Nenets Autonomous Area with a planned electricity generation of 1.2 million kilowatt-hours per year, as well as one more SPP in Orenburg region.

Zarubezhneft is also involved in the development of wind energy in Vietnam. On the basis of the Joint Venture Vietsovpetro, the company has its own necessary production facilities for the construction and operation of offshore wind farms.

At present, Zarubezhneft is developing the Vinh Phong offshore wind farm project in Binh Thuan province with a capacity of 1,000 MW. The wind farm will be located 20 km from the coast and will produce 3200-3600 gigawatt-hours of clean energy per year. The nearest plans include carrying out wind measurements in the area allotted for Vinh Fong. Such a study is necessary to confirm the favorable weather conditions for the construction of the plant.

According to the updated corporate Strategy, the main task of Zarubezhneft in the area of renewable energy is the formation of a portfolio of alternative energy projects with an installed capacity of 300+ MW by 2025 and 1000+ MW by 2030.

Already, Zarubezhneft is considering the possibility of implementing commercial international alternative energy projects at all stages, and mainly in partnership with specialized companies.