RUSSIA NUKE DEALER MOVES TO WIND

Russian Nuclear Supplier Plans IPO While Seeking Shale Gas, Wind Expansion
Eduard Gishmatullin, September 19, 2011 (Bloomberg News)

"OAO Atomenergomash, a Russian state-owned supplier of equipment to nuclear power plants, is diversifying into shale gas and wind power, and plans an initial public offering for its separate operations in 2014 or 2015…

"Atomenergomash, or AEM, earns about 60 percent of its sales from supplying Rosatom,
Russia’s State Nuclear Energy Corp. AEM, based in Moscow, is expanding into markets outside of the former Soviet Union, Central and Eastern Europe such as India, Vietnam and China. It’s also examining proposals to develop shale gas projects in Morocco, Syria, Central Asia and the Middle East…[It will] almost double its Russian market share to 30 percent and get about the same proportion of its sales outside of the country by 2015…"

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"…[Atomenergomash] expects to double sales this year to $2 billion…[and] buy one of three companies with wind-turbine technology it has short-listed to help it build Russian farms…

"The country, the largest oil and natural gas producer, aims to generate about 2.5 percent of its energy by 2015 from renewable sources, excluding hydropower…[but still] needs to develop laws to stimulate the use of alternative energy…"