Renewable energy sources are forecast to account for 25% of the total electricity generation capacity in Russia by 2035, compared with 22% in 2023, according to GlobalData’s power capacity and generation database. GlobalData uses proprietary data and analytics to provide a complete picture of Russia’s renewable energy market in its Russia Power Market Outlook to 2035 report. Buy the report here.
Of all renewable energy sources, the share of hydro power generation capacity is forecasted to change from 20% in 2023 to 19% in 2035.
The share of wind power is expected to reach 3.4% in 2035, compared with a 1% share in 2023. Solar PV is forecast to account for 1.9% share of Russia’s total electricity generation capacity in 2035, as against 0.8% share in 2023. The share of biopower is expected to change from 0.5% in 2023 to 0.7% in 2035.
In terms of capacity additions, the total renewable energy capacity is expected to see 14171.64 MW of additions in Russia during the forecast period while the non-renewable energy segment is likely to see 10975.57 MW of additions.
CAGR growth of key renewables in Russia
Renewable generation capacity in Russia is expected to reach 19GW in 2035 at a CAGR of 2% during 2023-2035.
Wind power is expected to record highest growth rate of 12.31% by 2035, followed by solar PV with 9%. Other renewable energy sources such as biopower, geothermal and hydro are estimated to have growth rates of 3%, 1%, and 0.00% respectively.
Hydrogen and CCS plants in pipeline in Russia
A total of ten hydrogen and 50 carbon capture and storage (CCS) plants are expected to be developed in Russia by the end of 2035.
For more detailed analysis of the renewable energy market in Russia, buy the report here.
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