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Lukoil signs renewable energy agreement with ERG

Lukoil and Italian ERG Renew will focus on wind power in particular.

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Lukoil and ERG Renew will cooperate on renewable energy projects.
Lukoil and ERG Renew will cooperate on renewable energy projects.

Russia's Lukoil and Italian renewable energy company ERG Renew have agreed to look at cooperating on renewable energy projects in eastern Europe and Russia, the companies said on Monday. In a joint statement, ERG Renew and Lukoil said they would focus particularly on wind power.

Lukoil President Vagit Alekperov said in the statement: ""Russia has a rather high wind-power potential. Wind energy, if promoted by the state, can be of good help to oilmen, especially in remote areas, scarce of power supplies. We are confident that cooperation with the Italian counterparts, experienced in green energy, will be effective."

"We are confident (Lukoil) is the ideal partner to help us to effectively implement our development strategy in the wind sector in European areas with high growth potential," ERG Renew Chairman Pietro Giordano said in the statement.

Lukoil jointly manages the ISAB refinery at Priolo on Sicily with ERG
ERG Renew is an ERG Group company that implements projects in the production of solar, wind and hydraulic energy. ERG Renew currently operates six wind farms with a total installed capacity of 144 Megawatts in Italy, and six wind farms with a total installed capacity of 64.4 Megawatts in France.
 

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