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In 2014, solar energy will be the main investment direction in renewable energy market of Russia

In 2014, solar industry will be the main investment direction in renewable energy market of Russia and CIS region.

This forecast was presented in the study of the international group IBCentre, devoted to the prospects of renewable energy development in Eastern Europe.

In particular, the following year the Russian renewable energy market will be the focus of investors due to PPA (power purchase agreement) model came into force in 2013 providing bonus investment return for project developers.

An additional factor that will determine more active development of solar energy in comparison with other sectors of renewable energy in 2014 is the requirement of "local content" (presence in a project not less than 50% of Russian components and equipment), which currently only solar segment developers can perform – due to the production of PV modules in the Russian Federation.

At the same time, the Russian Federation is still lacking a full production of megawatt-class wind turbines.

Promising markets for the development of solar energy in 2014 are also Kazakhstan, Uzbekistan and Belarus due to the environment conditions and the government actions directed to industry support. In addition, a number of large projects can be implemented in Ukraine, where the mechanism of "green tariff" exists.

IBCentre also predicts a rapid growth of the CIS market of engineering services in the field of renewable energy in 2014, which will be formed mainly by experienced foreign players. According to the IBCentre estimates, engineering industry market of the Russian Federation in the next year will be more than EUR 25 million and will increase to EUR 1.2 billion by 2020. Renewable energy market of the Russian Federation as a whole is estimated at EUR 8.5-10 billion.

3rd International Conference and Exhibition, CISOLAR-2014, is exactly dedicated to the investment opportunities in the solar energy market of Russia and CIS countries. It will be held on 8-9 April 2014 in Sochi. We expect around 250 delegates from more than 20 countries. Exhibitors of CISOLAR-2014 will be from more than 80 companies, representing the international solar energy industry.

by S. C.
15 january 2014, World News > Europe

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