Russia’s First High-Tech Factory to Start World-Class Power Electronics Manufacture with Support from VEB.RF
VEB.RF has provided financing for Element’s project to set up the manufacture of power microelectronic components for civilian applications.
The total project value is 19.5 billion roubles. VEB.RF’s participation in financing the project received approval from the Supervisory Board. VEB.RF is to invest a total of 15 billion roubles under the Cluster Investment Platform programme. The first tranche will be used as long-lead funding.
The new factory will become the first in Russia to manufacture crystals for power diodes and transistors based on silicon and silicon carbide, using advanced power electronics technology. The design capacity will enable the facility to produce up to 140,000 silicon and silicon carbide wafers per year. This will make it possible in the next six years to increase the share of Russian power microelectronics production from the current 2 per cent to 70 per cent, thus substantially expanding the local content of Russian-made power electronic components.
The Cluster Investment Platform programme provides soft lending to industrial companies for their capex projects to manufacture high-priority products. The list of high-priority products was approved by an interdepartmental commission of the Russian Ministry of Industry and Trade in accordance with the sector-specific import substitution plans and the list of critical materials, components and feedstock goods.
Element is a major electronics designer and manufacturer and a leader in the Russian microelectronics industry. The Element Group comprises more than 30 companies that design and manufacture integrated circuits, semiconductors, power electronic devices, modules, integrated circuit packages, and radio equipment. The Element Group’s products are widely used across a range of industries.
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