Russia to cash in on wind, solar, thermal boom

Russia is known for an abundance of oil and gas, but insiders are now pushing for it to become a leader in alternative energies. But that’s not possible without government help, according to the head of Russia’s former monopoly Unified Energy Systems.

Environmental concerns and rising oil prices have pushed the issue on to the agenda at the World Energy Congress in Rome.

“Alternative energy needs to be subsidised or supported somehow. That is why I personally would not believe that any strong step in developing the alternative energy in Russia without the support of the government is possible,” Anatoly Chubais, UES Head, said.

Over the past decade the governments of most developed countries have focused their attention on alternative fuels.

The International Energy Agency predicts $US 1 trillion will flow this sector by 2030.

“If Russia is rich in traditional energy resources such as oil and gas, the best thing it can do for its future is use its export profits to invest into the development of alternative energy. That’s especially true since by the year 2060, the balance between various types of energy will be about equal,” pointed out Vladimir Tumanov, the director of state-owned New Energy Projects.