RUSSIA-CAPTURED CRIMEA DIALS DOWN NEW ENERGY
Crimea Cuts Payments for Wind and Solar Power Plants
Stephen Bierman, August 8, 2014 (Bloomberg BusinessWeek)
“Crimean solar and wind companies may restart power generation at lower rates as Crimea set prices for renewables at no higher than electricity imports from Ukraine…to about 3.42 rubles (9 U.S. cents) per kilowatt-hour, or about a quarter of those granted before Crimea joined Russia…[after President Viktor Yanukovych fled Ukraine’s capital Kiev amid violence and protests. Russia’s subsequent annexation of the Black Sea peninsula halted output from renewable power generators…Even with reduced rates, Russia will still need to pay about 9 billion rubles in subsidies for renewables by the end of the year…Wind and solar generators have agreed to work at the current rate…” click here for more
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