Financing Renewable Energy Investments in Russia: Legal Challenges and Opportunities

This report is a sequel to the Green Paper on Renewable Energy Policy in Russia: Waking the Green Giant that the Russia Renewable Energy Program of the International Finance Corporation (part of The World Bank Group) published in June 2011. The Green Paper outlined the Russian strategy for the development of renewable energy sources by introducing the history of Russian renewable energy policy. It examined the social, economic and political benefits that renewable energy sources could present for Russia and identified the main barriers to the implementation of these investments.

The present report provides a legal analysis of financing mechanisms for renewable energy investments in the Russian electricity wholesale and retail markets and in the Russian heating sector. It aims to reflect on recent regulatory developments concerning the promotion of renewable energy sources through the Russian wholesale capacity market.

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