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Energy Minister: Russia to invest 17 billion dollars in renewable power generation by 2020

December 07, 2013, 5:31 UTC+3 7
Under the electric power production strategy the share of NPPs in power production should grow from 16 percent to 19 percent
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© ITAR-TASS/Valery Sharifulin

WASHINGTON, December 7 (Itar-Tass) - Russia will invest an equivalent of 17 billion dollars in the development of renewable power generation, Energy Minister Aleksandr Novak said at a meeting with members of the US business community at the Brookings Institution in Washington on Friday.

“According to our estimates, the RPG in Russia will grow three-fold to 6 gigawatts by 2020, which would require investing an equivalent of 17 billion dollars,” Novak said.

Under the electric power production strategy the share of NPPs in power production should grow from 16 percent to 19 percent.

Russia is currently building nine reactors at home and nineteen others, abroad, Novak said. All are generation three plus reactors boasting the highest energy effectiveness and safety parameters.

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