Connect with us

Hi, what are you looking for?

Jewish Business News


Russia’s Richest Man Viktor Vekselberg to Open Solar Plant

Solar Energy Should Shed New Light on Russia’s Economy

Viktor Vekselberg 640x360

Reeling from the dropping price of oil, the Russian economy, or at least Russia’s richest man, Viktor Vekselberg, may find hope in alternative energy.

Bloomberg reports that Vekselberg’s joint venture with Renova and OAO Rosnano, called OOO Hevel, is opening a solar production plant. Despite the fact that in Hebrew, Hevel sounds like it is related to the concept of “waste, ” this project likely will not be a waste of time or resources.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Bloomberg reports the plant is expected to reach a capacity of 97.5 megawatts per year by the end of 2015, and is likely to cost 20 billion rubles or $320 million to put in operation.

At the beginning of the year, there was a reshuffling of Russia’s Richest list, with Vekselberg hitting the top spot and unseating Alisher Usmanov. Vekselberg, who has a Ukranian Jewish father, is the founder of Rosnano and is worth $14.7 billion. He did sustain losses due to Russia’s rough 2014, and his net worth fell by $200 million, although others did much worse. Ushmanov lost 25% of his fortune and Mikhail Friedman saw the value of his assets drop by 18%. In the Jewish tradition, 18 is supposed to be a blessed number, but not for Friedman, apparently.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.