IFC hopes region can be renewable role-model for Russia

The Kremlin has been lukewarm over renewables compared to other governments

koraxdc/Flickr

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By Andrew Lee London

 Tuesday, April 03 2012

Updated: Monday, November 26 2012

The International Finance Corporation (IFC) has signed a cooperation deal with the government of Kaluga, Russia, that aims to make the region a national blueprint for renewables development.

The IFC, part of the World Bank group, says it will work with Kaluga to analyse the region’s renewable energy potential and the technologies needed to exploit it.

“IFC also will help Kaluga develop a regional legislative framework that will support investment into renewable energy and serve as a model for other regions,” adds the finance group.

The agreement is the first of its kind signed by the IFC with a regional government since it launched its Russia Renewable Energy Programme (REEP) in 2010.

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