Construction of the first Russian solar plant may start in the North Caucasus resort city of Kislovodsk in 2011, the chief specialist of the Rostovteploelektroproekt engineering company said on Thursday.
"We are currently holding the last round of talks and I hope construction work will start next year," Adolf Chernyavsky said.
The general capacity of the solar plant will be 13 MW. The plant will produce both heating and electricity.
The project investment volume is 3 billion rubles ($99 million), 30% of this amount will come from the state budget and private investors are expected provide the remaining 70%.
The engineering company said locating the solar plant in Kislovodsk is most profitable because the intensity of solar radiation is the highest in the region.
The solar plant will provide areas surrounding Kislovodsk with electricity and heating.
Hot water will be stored in special storage facilities to be used when overcast weather prevails.
NALCHIK, July 29 (RIA Novosti)
