Russia to Reap Rewards from Renewables

With REEEP’s new secretariat in Moscow, renewable energy and energy efficiency programs in Russia and Former Soviet Republics (FSU) will benefit from an exchange of expertise with the rest of the global energy community. The aim of REEEP (Renewable Energy & Energy Efficiency Partnership), “to accelerate and expand the global market for renewable energy and energy efficiency technologies,” is being realized with this its seventh secretariat.

The potential for clean energy is enormous in a region so rich in natural resources, and Russia’s portfolio could cover energy sources from solar to wind, biomass, geothermal and hydro, all potentially contributing wealth to the economy. The current share of renewable energy in Russia’s energy bank stands at about 1 percent but, according to the International Energy Agency, “the volume of renewable energy in Russia with economic potential corresponds to about 30% of the country’s actual total primary energy supply (TPES).” REEEP’s Russian Secretariat will be based in the offices of the RREC (Russian Regional Environment Center), which has experience in the clean energy sector in Russia, Ukraine, and Kazakhstan. By cementing strong local ties via RREC, REEEP will harness the knowledge available in Russia and the FSU, while providing a political channel to 39 governments that are members of the REEEP network. The intra-country link will allow for replication and scale-up of proven models between countries around clean energy policy, regulation and finance. REEEP is also hoping to expand its on-the-ground activities in Russia and the FSU. RREC will administer the next call for projects within the region. REEEP will support the development of a clean energy marketplace via improved legislative and regulatory frameworks that lower risk and attract investment. The new regional home for REEEP is being founded at an important stage for both Russian industry and its renewable energy sector. In 2006, the UK will hand over the G8 presidency to Russia. Russia, whose participation in the Kyoto protocol catalyzed the international carbon trading system, stands to gain significantly from it by developing clean energy projects.

No posts to display