SOCHI, September 25. /TASS/. The launch of a price zone in the Far East will provide an opportunity for financing of the construction of hydroelectric power plants, according to Deputy Energy Minister Pavel Snikkars.

"The situation with prices will be much better in terms of recovering lost revenues. We do not expect sharp increases due to the introduction of market prices. As a result, it will be possible to continue financing the construction of hydroelectric power plants. We hope that RusHydro will identify and use sources of financing as part of its business plan," Snikkars said.

In May, it was reported that the Far East power market will be opened on January 1, 2024 by expanding the second price zone of the wholesale power market. The measure is expected to attract new investments by promoting market conditions and increasing the reliability of energy supply.

Snikkars also added that the Russian Ministry of Energy will expand the state assistance program for renewable energy sources for small hydropower power plants (HPPs), increasing the total sum provided for their support by 30 bln rubles ($311.55 mln) from 2030 to 2035. This will enable the commissioning of up to 82 MW of small hydropower plants per year.