The Growth Assessment of Renewable Energy in Russia: the Retrospective Analysis

Abstract

Renewable energy is a driver for developing the global energy market, including Russia. Key approaches to assessing the growth prospects of the renewable energy segment in Russia are discussed. The data of the financial statements of Russian generating companies for the period 2015-2020 were analyzed. The purpose of the article is to assess the prospects for renewable energy business compared with traditional energy companies in the Russian Federation based on a retrospective analysis of the financial statements of independent companies in this sector. Conclusions are made about the overestimated forecast estimates of the investment attractiveness of the renewable energy segment in Russia for 2020. Nevertheless, according to independent organizations in the renewable energy sector in Russia, revenue growth is 44% (at current prices) for the period 2015-2020, while for the traditional generation, it is only 6.3%.