Bank ROSSIYA and ARVE to join forces to develop renewable energy

On June 18, Bank ROSSIYA and the Association for the Development of Renewable Energy (ARVE) signed an agreement on cooperation within the framework of the St. Petersburg International Economic Forum (SPIEF-2025).

The document was signed by Tatiana Polinko, Chairman of the Management Board of Bank ROSSIYA, and Alexey Zhikharev, Director of ARVE.

The agreement provides for cooperation aimed at developing renewable energy (RES) in the Russian Federation, attracting investment in the industry, and improving the regulatory framework for building an effective regulatory system for the renewable energy generation sector. The partnership also involves joint market analysis, exchange of Russian and international experience, and interaction with relevant organizations and the expert community.

"The development of renewable energy is one of the most important areas for our country. The enormous natural potential of Russia, especially in Siberia and the Far East, is currently underutilized, and wind, solar, and hydroelectric power plants are still being built in insufficient quantities to achieve carbon neutrality. The constraints are the high cost of financing and the need for infrastructure development, and it is in the development of investment projects in this area that financial institutions can help," said Polinko.

Cooperation between the Bank and the ARVE will primarily be aimed at creating a favorable investment climate through the development of financing mechanisms for investment projects in the field of renewable energy and the formation of financial instruments that expand opportunities for attracting capital to this industry.

As Zhikharev added, the role of renewable energy in the energy supply of the Russian economy is growing. According to the general scheme for the development of the electric power industry, by 2042, excluding large hydroelectric power plants with a capacity of more than 50 MW, more than 18 GW of such generation will be additionally built.

"This is a huge investment, more than 1.5 trillion rubles. It will be extremely difficult to ensure such large-scale development without new financial mechanisms and tools adapted to these tasks. It is especially important to actively involve the banking sector in the problems of the electric power sector against the background of the key interest rate being kept at a high level. I am confident that the vast experience of Bank ROSSIYA, which has been acting as a backbone bank for the Wholesale Electricity and Capacity Market (OREM) for more than 10 years and provides it with a full range of banking settlements, will be an important contribution to solving the problem of increasing the efficiency of mechanisms for attracting investment in the Russian electric power industry," he said.

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In addition, the results of the ARVE integrated regional investment rating in the field of renewable energy for 2024 were announced at the Bank ROSSIYA stand.

The Rostov Region took the first place among the leading regions of the rating in terms of a set of indicators, the Stavropol Territory took the second place, and the Volgograd Region took the third place.

The rating methodology assumes a comprehensive assessment of the prospects for the development of green generation in the territory of the subjects of the Russian Federation according to a wide range of criteria.

Earlier that day, Bank ROSSIYA and the International Congress of Industrialists and Entrepreneurs (ICIE) signed a cooperation agreement.