Clean Power Image Credit: Russian Flag via Flickr CC

Published on May 6th, 2014 | by James Ayre


Russia Expects Investment In Country’s Solar Industry To Reach $4.2 Billion By 2020

May 6th, 2014 by  

Image Credit: Russian Flag via Flickr CC

State and private investment into Russia’s solar industry will climb to somewhere around RUB 150 billion (US$ 4.2 billion) by the year 2020, according to the country’s Ministry of Energy.

The state-owned investment giant Rusnano and the Renova Group conglomeration are expected to play a significant role in the industry, according to industry analysts.

The corporate affairs director at Hevel Solar — one of the biggest producers of solar modules in Russia — Anton Usachev predicts that “solar power plants will be established in the southern and southwestern Russian regions of Altai, Bashkortostan, Orenburg, Samara and Omsk in the next six years,” as quoted by PV Magazine.

According to Usachev, around 1.5 GW of solar power plants will be built in Russia by the year 2020.

“Hevel, a joint venture between state-owned tech giant Rusnano and Russian conglomerate Renova, also has plans to establish PV module manufacturing plants in the country, the largest of which is scheduled for commissioning in June in Chuvashia with an expected capacity of more than 100 MW per year. Avelar Energy Group – also part of Renova, and France’s Schneider Electric are also looking at launching an inverter production facility in Russia in the next several years.”

Russia’s renewable energy industry (not counting hydro) has been growing at only very slow rates until very recently — investment hasn’t been significant, less than $1 billion a year. But that has started to change recently, as Russia’s quite successful first-ever renewable energy auction recently made clear.

That said, it’s important to note that the solar energy picture in Russia is quite complex. While it’s an easy thing to take a respected analyst at her or his word, there are a number of wildcards with regard to solar energy development within the eastern powerhouse. What will actually happen remains to be seen.

Keep up with all the hottest solar power news here on CleanTechnica, or even subscribe to our free solar power newsletter.

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About the Author

's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy. You can follow his work on Google+.

  • JamesWimberley

    Wait until solar starts being a threat to Gazprom and Lukoil. A good many of the projects are in regions (especially “autonomous republics”) that don’t have oil or gas royalties, so there’s also an aspect of regional self-assertion against Moscow.

    Russian ambitions are pretty timid. 1.5 GW by 2020 is only 250 MW a year. Turkey, with similar GDP per head but half the population, aims at 3 GW by 2023.

    • Calamity_Jean

      Isn’t Russia’s oil a major source of foreign exchange? If solar reduces internal consumption of oil, it releases some oil production to be sold outside the country. From that point of view, solar will never be a threat to Russia’s oil companies. Saudi Arabia is getting into solar for the same reason.

      Turkey is further south and has a much better solar resource. Of course they will plan to install more GW of solar. Turkey will get more watts per panel than Russia will. I’m a little surprised that Turkey is aiming as low as 3 GW. I’d expect Russia to install a lot of wind power also, because they are so far north that their solar resource is relatively poor.

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