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IFC Invests into Renewable Energy Sources in Tomsk Region

Head of IFC for Europe and Central Asia Tomasz Telma and Governor of Tomsk region Sergei Zhvachkin

It is planned to replace the diesel power plants with the mini hydro power plants or hybrid energy sources such as wind-diesel complexes and wind-solar power plants. The transition towards hybrid power plants and mini hydro power plants will help the region to considerably reduce the cost of energy carriers.

The International Financial Corporation have signed a cooperation agreement with the administration of the Tomsk region (Russia), within the framework of which IFC will contribute to the development of the renewable energy sources, assist in attracting investment into this sector as well as will develop the measures to cut the expenses on electricity.

Within the framework of the renewable energy development program in Russian, IFC will help the administration of the Tomsk region to carry out the analysis of the potential of renewable energy sources in the region, to define the technological gaps and investment possibilities.

Russia is the fourth biggest source of greenhouse effect emissions in the world. The energy consumption in the country is one of the highest in the world, and the existing generating facilities are approaching the end of the technological operating life. The government of Russia set the goal of increasing the share of renewable energy sources up to 4.5% by 2020, with less than 1% at the moment. If this goal is reached, this can create the 20 billion dollar market of the renewable energy sources in Russia.

As Tomasz Telma, the director of IFC in Europe and Central Asia point out, the renewable energy sources are an economically effective alternative to the extractable types of fuel in ,any regions of Russia. The efficient transition of the Russian regions to the renewable energy sources can also help reduce the global greenhouse emissions.

Within the framework of the agreement IFC will also help the authorities of Tomsk to study the bio energy potential and develop the legislative base for supporting the investment into renewable energy sources.

The IFC program on the development of renewable energy sources in Russia, which is funded by the Global Environment Facility, contributes to the development of the renewable energy sources by combining the investment and consulting services. The program pays special attention to the partnerships with the regions of Russia.

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