IFC is a renewable energy with the intention of Russia to determine its potential

IFC Program to date is the first major initiative in the field of financing renewable energy in Russia, launched a foreign investment structure. ) Of which IFC will provide. The priority areas for the corporation in Russia will be wind power (in the south and the north- east of the country, as well as the Far East ) and the energy derived from biomass (mainly in the south of Russia).

Private Western companies and banks still do not consider the Russian market of renewable energy as a viable prospect for investment, despite the fact that the official goal of government is to bring the share of these sources with 1% of installed capacity at present to 4.5% in 2020. The main problem that limits the entry of companies into the Russian market, as noted yesterday, IFC Director for Central and Eastern Europe Snezana Stoiljkovic is the lack of legal and regulatory framework governing the development and financial incentives for renewable energy in Russia. Such legislation already exists in more than one hundred countries around the world, while in Russia the draft amendments to the Law № 35 ...

While major investments in renewable energy in Russia, says Anton Lipatov from the analyst firm Cleandex, directed not to the generation and the production equipment or the sources themselves (eg, pellets - pellets). According Cleandex, in 2007, investments in these sectors amounted to 280 million rubles. (about $ 11 million ). In 2008 and 2009 the volume of declared investments increased, respectively, to 11 billion rubles. (about $ 430 million ) and 29 billion rubles. ($ 925 million ) - mainly due to launch projects of corporation ... But, as noted by Mr. Lipatov, without regard to the stated investment corporation investment in renewable energy in 2008-2009 amounted to no more than 500 million rubles.

According to IFC, to bring the level of renewable energy generation, as planned in the government, to 4.5 % in 2020, requires investments of $ 50 billion. Therefore, additional funds ($ 10 million allocated to IFC Global Environment Facility) will be sent to the corporation to create the conditions for investment at the federal and regional levels, as well as to help banks in developing financial products for renewable energy.

Angelina Davydova.