Russia aims for 6 GW of renewables capacity by 2020

The Russian government has reportedly signed a decree to encourage electricity generation from renewables which aims for 6 GW of new capacity by 2020.

A Bloomberg news report quotes Russian Energy Ministry spokesman Dmitry Babanskiy and says the government has agreed to encourage renewables with the aim of raising the proportion of energy generated from PV, wind and small hydro in the Russian Federation from 0.8% today to 2.5% in seven years’ time.

Those figures, though, fall far short of the ambitious aims outlined under the Russian Renewable Energy Program of the World Bank’s International Finance Corporation (IFC).

The IFC program – which aims to increase private sector investment in renewables – aims for 4.5% of Russian electricity to come from renewables by 2020, an aim it says would require 22 GW of new capacity and around US$250 billion to $300 billion of investment over that period.