Solar photovoltaic power generation system in Saint Petersburg Russia

Does Russia have a solar PV market?

According to GlobalData, solar PV accounted for 0.61% of Russia’s total installed power generation capacity and 0.22% of total power generation in 2021. GlobalData uses proprietary data and analytics to provide a complete picture of this market in its Russia Solar PV Analysis: Market Outlook to 2035 report. Buy the report here.

What percentage of solar PV power plants are in Russia?

Of the total global Solar PV capacity, 0.13% is in Russia. Listed below are the five largest upcoming Solar PV power plants by capacity in Russia, according to GlobalData’s power plants database. GlobalData uses proprietary data and analytics to provide a complete picture of the global Solar PV power segment.

What is Russia's largest solar energy company?

With a capacity of 20 MW, it will power about 4,000 homes and will be launched in September. The Hevel Group (" hevel " means “sun” in the Chuvash language) is Russia’s largest solar energy company, and was founded in 2009 by Renova and Rosnano, which have a 51-percent and 49-percent stake, respectively.

Is solar energy a good investment in Russia?

Even though demand for solar energy in Russia is low, the Moscow-based company, Hevel, is producing solar modules with an energy conversion efficiency of 22 percent, which is the world’s highest. In addition to Hevel, only two other companies in the world produce solar equipment with similar efficiency: Panasonic (Japan), and Sun Power (U.S.).

How much solar energy does Russia produce?

Russia's share of solar energy production is a paltry 0.03 percent of the country's total, and to meet its electricity needs the country relies heavily on traditional energy sources with high conversion efficiency, such as gas, oil, hydro and nuclear. Nevertheless, in the past three years Russia has been rapidly developing solar energy.

Where is Latgale solar PV project located?

The Latgale Solar PV Project is a 400MW Solar PV power project located in Magadan, Russia. The project is currently in permitting stage. The project is expected to enter commercial operation in 2025. Buy the profile here. 2. Fortum Kalmykia Solar PV Park Fortum Kalmykia Solar PV Park is a 116MW Solar PV power project in Kalmykia, Russia.