Nuclear and hydro to continue to dominate Russian power

A report by GlobalData on the Russian Federation power market reveals an abundance of gas, uranium, and  hydropower resources in the country. The government favors these resources, which will help maintain their future dominance in Russia’s power mix. Electricity generated from nuclear and hydropower should make up nearly half of the total electricity generated by 2030.

Wind and solar power are expected to post the highest growth trajectory in 2018. Non-hydro renewables are expected to reach 3.9% of the total installed capacity of the country in 2030, compared with 66.0% of thermal power, 19.3% of hydropower, and 10.8% of nuclear. Another report by GlobalData estimates global GT market value at $6.84 billion in 2022, declining at 7.7% per year between 2018 and 2022. The slowdown is mainly attributed to the growing influence of renewable energy and volatility in gas spot-price markets.