Thermal power to dominate Russian energy mix until 2030

By BizClik Editor
The slow pace of technological transition is the biggest challenge facing Russia’s power sector

The slow growth of renewable technology in Russia will mean that the country will continue to significantly depend on thermal sources for power generation, a report from GlobalData has found.

According to the data and analytics company, thermal power is expected to have the largest share in Russia’s power generation mix by 2030 with 57.8%. However, the report, entitled ‘Russia Power Market Outlook to 2030, Update 2021 – Market Trends, Regulations, and Competitive Landscape’, warned that the country’s large reserves of natural gas and coal have kept it away from embracing renewable sources for power generation.

Rohit Ravetkar, Power Analyst at GlobalData, says: “In 2030, power generation from renewables will contribute a share of only 1.2%. The availability of cheap conventional energy sources has meant renewable just hasn’t been a priority. In fact, Russia has the world’s largest proven natural gas reserves and the second-largest coal reserves.”

“This slow pace of technological transition is one of the major challenges of the Russian power sector. For example, nearly half of the current thermal power plants in the country were commissioned before the 1980s. Further, the factories that supplied equipment to these plants have not seen any modernisation since the fall of the Soviet Union, which now means that most of the power plants in the country are functioning at low efficiency,” he continued.

“There is an urgent need to refurbish the aging plants, and this will provide a huge investment opportunity. A specific opportunity for foreign companies in the power sector is supplying newer energy-efficient technology for power generation from various sources, and pollution-control equipment for thermal power generation plants,” Ravetkar concluded.


Featured Articles

People Moves: Pine Labs, Deutsche Bank, McKinsey, Fortinet

Pine Labs names former Amazon exec as chief people officer, Fortinet hires government affairs leader for APAC, McKinsey India poaches Accenture HR exec

Dialight envisions a world of industrial safety with LEDs

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Must-see speakers at TECH LIVE LONDON 2022 event

Technology leaders from IBM, Oracle, Vodafone, JP Morgan, Accenture and the US Space Force are among the 80-plus speakers at upcoming TECH LIVE LONDON

Vodafone Business cyber leader Kawalec speaks at Cyber LIVE

Leadership & Strategy

Twitter timeline – how Musk pulled off a hostile takeover

Leadership & Strategy

Top 10 Asia restaurants, from Tokyo’s Den to Bangkok’s Sorn

Leadership & Strategy