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Russia is the 12th largest economy in the world by nominal gross domestic product (GDP) and sixth largest by purchasing power parity (PPP). In 2014, per capital GDP of Russia as estimated by the World Bank was US$12,736, the highest of all BRICS countries.
The alternative energy sector, despite the current economic slowdown, is growing throughout Europe and in the World. It is becoming a permanent part of the energy mix.
Approximately 10 percent of Russia’s population has no access to centralized electric power supply, which combined with the fact that many dacha residents (around 16 million families own countryside houses) having no access to electricity, makes for a wide array of potential renewable-energy customers.
To meet increasing electricity demand, over the next two to four years Russia will need to add a minimum of 20,000 MW of new generating capacity. There is a growing realization by Russia’s policy makers and the private sector, that increased use of energy efficient and renewable energy technologies can help meet the growing demand for energy resources.
The Energy Strategy of Russia until 2020 sets the target for installed renewable electricity generation to 4.5% by 2020.