Russia

Russia

Russia allocates €3.14 billion to support wind

The Russian government has finally approved the allocation of RUB 222 billion (€3.14 billion) to support wind projects between 2022 and 2035.

Russia has set a budget for backing renewables between 2022 and 2035 (pic: Fortum)
Russia has set a budget for backing renewables between 2022 and 2035 (pic: Fortum)

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The total accounted for 55.5% in the overall volume of funds that have been reserved by the state for all renewables in the reporting period.

Most of Russia’s leading wind power analysts consider the allocated funds insufficient to further develop the industry.

Igor Bryzgunov, head of the Russian Association of Wind Industry (RAWI), told Windpower Monthly: "The tenders to select wind projects, which have been conducted in Russia since 2017, have shown a two-fold reduction in capital costs for the construction of wind farms.

"That matches with the global trends and instills optimism.

"However, for a further development of the market there is a need to increase the number of investors in it. This in turn will increase investors’ influence on the market dynamics," Bryzgunov said.

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