A socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and sporting, public, and cultural events.

The Roscongress Foundation – a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and sporting, public, and cultural events.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5000 people working in Russia and abroad. In addition, it works in close cooperation with 126 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 69 countries worldwide.

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News
07.08.2017

Mechanisms for supporting renewable energy sources may be modified

Moscow, 4 August. The Market Council has proposed altering the approach to the development of renewable energy in Russia. The regulator believes that the mechanisms offered by the state industrial policy would be more effective than the existing support system via the energy market in which the burden is placed on the consumer. The Russian Ministry of Energy concedes this approach could be possible. Deputy Minister of Energy Vyacheslav Kravchenko said the development of green energy could be stimulated through tax incentives or subsidizing interest rates. “The reason for the high price of renewable energy sources is the cost of capital: we allow for yield of around 12–14%. As I understand it, that is quite high. If capital is cheaper, the cost of renewable energy sources will also fall”, Kravchenko said.

Kravchenko believes developing renewable energy source projects in the Far East has the greatest potential. Specifically, setting up “green” power generation is economically viable in isolated power districts, he said. “The cost of electricity production using combined sources of wind-diesel and sun-diesel is cheaper than simply using diesel fuel. Thus, even now it is possible to use the difference in price for electricity alone instead of mechanisms for supporting renewable energy sources”, Kravchenko explained.

A separate pillar of discussions will be devoted to renewable energy sources during Russian Energy Week. The themes include: ‘Developing renewable energy sources in Russia: scaling up and exporting technology’, ‘Inevitable growth: new renewable energy projects in Russia’s regions’, ‘• Energy storage – a revolution in the renewables sector?’, ‘Traditional vs alternative energy: which has the investor’s vote?’ The discussions will be attended by representatives of leading energy companies, investors, legislators, and industry experts.

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