The key point - development of clear financing sources for renewable energy projects

29 may 2014 | RBC

The spring forum on “Energy Efficiency and Innovation” is taking place in Krasnodar

Pavel Svistunov
Pavel Svistunov
Directorate for Energy Saving and Energy Efficiency

The Ministry of Natural Resources and Environment of the Russian Federation has presented at the Forum a proposal to reorient the Russian energy sector. Currently the industry is responsible for up to 60% of the State budget’s revenue and is the main engine for the Russian economy growth. However, the growth is needed in other industries too, and the fuel and energy sector must take the role of a “supporting infrastructure”.

The participants consider that before making any plans, order must be created in energy resources market and key problems in the industry need to be solved. For example, we have to find extra-budgetary sources for financing renewable energy projects and methods to accelerate their payback.

“Currently, Sberbank and VTB have the task to develop proposals on how to attract extra-budgetary resources for the development of renewable energy sources. The key point is the development of clear sources for financing the projects”, - considers Pavel Svistunov, Head of Directorate for Energy Saving and Energy Efficiency of the Analytical Center.

See the details in the RBC document – Kuban.