The Government of the Russian Federation will allocate about RUB100 billion ($1.3bn) for new nuclear projects, Prime Minister Mikhail Mishustin announced on 11 February.

Projects for the creation of new nuclear power facilities will receive about RUB56 billion from the National Wealth Fund (NWF), another RUB40 billion will be allocated from the budget.

“We have repeatedly discussed the issues of transition to a new energy sector, including holding a strategic session in the fall on the prospects for using hydrogen for these purposes. It is known that Russia is the world leader in nuclear energy. Active work is underway to develop renewable energy sources, including solar and wind,” he said.

He added that considerable funds had been set aside for implementation of the plans.

According to Deputy Prime Minister Alexander Novak, by 2024 it is planned to commission more than 4000MWe of capacity, and by 2030, electricity generation at renewable energy facilities will increase fivefold.

By 2024, it is planned to develop nine domestic technologies, six types of equipment for production and, in general, for hydrogen energy. A test site for equipment testing will also be created and a number of hydrogen export projects will be launched, including hydrogen production projects on the Kola Peninsula and Sakhalin. 

By 2030, Russia intends to occupy up to 20% of the global hydrogen market.