Putin ratified Russia’s subsidy for green energy

There will be solar subidies in Russia

Putin has ratified solar subsidy in Russia

The country known as the giant oil producer is taking into account the possibility to develop the renewable energy sector that now is responsible for only 0.8% of the country’s power and managed hosted its first renewable energy auction, with 39 ventures securing subsidies.

It is the first tome that Russia has given its first ever state backed support for clean energy. Russia is now offering support for 39 clean power ventures that sum 504 GW.

While sun power gain a lot that day, 399 MW secured, the wind power sector obtained only 10% of the 1,100 of wind power capacity offered at the sell-off. On the opposite side, solar develops nearly 1,000 MW with 32 projects that are to be built from 2014 until 2017.

“The tender has been quite successful for solar energy, showing that the Russian market can attract developers,” announced the head of the Russian Solar Industry Association, Anton Usache. Because of the fact that investors have to use only half of the materials from the local producers, the wind power sector could have been uncertain, as Usache believes.

On the other hand, solar bidders were obviously self-assured in their abilities to live up to local’s content requirements.

Putin, Russia’s president was the one who ratified the subsidy program, which is part of the intention to help the country not to depend so much on fossil fuels. So, until 2020, Putin ensures that renewable energy sector will produce 2.5%.

This new subsidy program says that the plants used in the program must have a minimum 5 MW output and developers can receive payments for 15 years but only if they agree to give away power during peak demand hours.

At this moment only a few plants exist in the country, totaling 3MW. In Russia’s inaccessible east, Russian Solar Industry Association says  solar can be three- to four-times cheaper than conventional fuel that has to be transported long distances at a high price.

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Posted by on Oct 2 2013. Filed under _featured slider, Energy Market, Europe, Market News, Solar PhotoVoltaics, Wind. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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