Russia has introduced a scheme whereby selected renewable generation projects can qualify to receive set capacity payments, intended to deliver recovery of capital invested and a certain level of return over a fifteen year period from the date of their commencement of operation. The first tender for participation in the scheme is to be held by September 2013.
The Russian Government has recently adopted a key piece of legislation for the support of renewable power generation projects in the country. Government Regulation No. 449, dated 28 May 2013 (“Regulation 449”) comes into force on 11 June 2013, and establishes a long-awaited incentive mechanism for the use of renewable energy on the wholesale power market1, operating through the capacity payment system. Regulation 449 is accompanied by certain simultaneous changes to the Russian Government’s published policy guidelines for encouraging the development of renewables.
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