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Russia’s electric power sector requires $512.5 bln in investment by 2042 — Energy Ministry

The Energy Ministry has also set a goal to carry out a modernization program for public utility infrastructure and to improve the quality of utility services for 20 mln people by 2030

MOSCOW, July 16. /TASS/. Russia’s electric power sector will require 40 trillion rubles ($512.5 bln) in investment by 2042. By that time, the Energy Ministry expects to commission 88 GW of new capacity, according to a presentation by Russian Energy Minister Sergey Tsivilev.

The materials prepared for his address to the Federation Council state that for a stable and dynamic economy transitioning to a model of advanced growth, it is necessary to develop the power grid infrastructure. The Energy Ministry plans to build 14,000 km of trunk power transmission lines by 2036, which will require 17 trillion rubles ($217.9 bln).

In addition, programs aimed at improving the reliability of the power grid infrastructure are being implemented in eight regions across Russia.

The Energy Ministry has also set a goal to carry out a modernization program for public utility infrastructure and to improve the quality of utility services for 20 mln people by 2030.

In April, Energy Minister Sergey Tsivilev stated that the ministry intends to modernize the entire electrical grid in Russia as part of the national energy strategy through 2050. The minister emphasized the importance of delivering efficient power generation and high-quality electricity transmission to end consumers. According to Tsivilev, the implementation of the energy strategy is organized into six-year phases. The first phase is scheduled to conclude in 2030, the second by 2036, the third by 2042, and the fourth by 2048. The strategy is also expected to be extended through 2050.

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