Alternative energy market in Russia: at the crossroads of interests and opportunities

¹ Petrozavodsk State University, Lenina 33, 185910, Petrozavodsk, Russia
² Belarusian Trade and Economic University of Consumer Cooperatives, Oktyabrya Avenue 50, 246012, Gomel, Belarus
³ St. Petersburg State University of Veterinary Medicine, Chernigovskaya 5, 196084, St. Petersburg, Russia
⁴ St. Petersburg State Agrarian University, Komendantsky 42-1-3, 197373, St. Petersburg, Russia

^* Corresponding author: a7830298@gmail.com

Abstract

The development of an alternative energy market in Russia within the strategy of forming a green economy is more promising task due to the high level of regulation and closed for entry of private investors, as well as the sufficiency of fossil hydrocarbons. At the same time, Russia understands the importance of participation in the processes of green transition and decarbonization of the national economy due to the commitments under the Paris Climate Agreement, as well as the presence of trade risks in terms of export of traditional energy assets (oil, gas) to the EU, UK, and, starting in 2020, to the PRC and Japan (despite the fact that there are no trade risks in the energy sector). - China and Japan (despite the sanctions on Russia’s energy sector, it still has the formal right to participate in tenders for international financing of "green projects"). The most promising proposals for the development of the alternative energy market and business activation are: the formation of a segment of "green finance" in the national stock market; the development of the practice of PPP models for the implementation of energy projects in the renewable energy sector; the formation of green finance departments on the basis of major banks; 4) the formation of export-oriented hydrogen production on the basis of oil and gas businesses.