Russia Renewables Report Q3 2018
While we have made a slight upwards revision to our forecasts for the Russian renewables sector this quarter, based onan anticipated uptick in activity in the wind power sector, overall the outlook for the market remains subdued. Totalrenewables capacity is forecast to increase from 1.7GW in 2018 to 2.5GW in 2027, still contributing less than 1% of total installedcapacity in Russia. Some upside risk does stem from the forthcoming renewable auction which is expected to add to the projectpipeline in the wind power sector, however regulations which stipulate that a proportion of equipment utilised in projects must beproduced locally will continue to hamper development of the market. High thermal subsidies, a weak rouble and ongoing domesticeconomic uncertainty will also remain significant headwinds to growth.
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