Oleg Budargin, CEO of Rosseti, operator of Russia’s electrical grid (LSE: RSTI), during his visit to Japan held negotiations with Mr Masayoshi Son, Chairman and CEO of SoftBank Group Corp., on the feasibility studies of the Asian Energy Super Ring project. A power bridge between Russia and Japan is supposed to become a part of the Ring.
Construction of Asian Energy Super Ring was a key point under the discussion at the meeting of Rosseti and SoftBank Group Corp.’s heads with top-managers of State Grid Corporation of China and KEPCO. The parties considered possible steps on the path to form an intergovernmental working group for the project realization which had been suggested by Russia’s President.
President Vladimir Putin earlier this month during his speech at Eastern Economic Forum in Vladivostok backed the idea of the companies from Russia, Japan, China and South Korea to bring into life Energy Super Ring project.
During his stay in Tokyo Mr. Budargin also shared his vision on power grids cross-border interconnection and Asian Energy Super Ring positive effects at Bringing Vast Renewables to Global Interconnection symposium held by Renewable Energy Institute.
Rosseti’s head noted that supplying electricity across international borders could become a response to such global worries as energy security, electric reliability and environmental protection.
“Currently interconnection project has all the chances to be implemented at the highest technology level with the state-of-the-art and innovative solutions leading the way to the future international electricity market formation”, - Budargin said.
From Mr. Budargin’s perspective electrical generation plants located in Siberia and the Russian Far East could improve their efficiency by getting opportunity to sell surplus of energy abroad. No doubts the parties concerned would also benefit from power grids cross-border cooperation.