2 Sustainable Development Goals in Context to BRICS Countries
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predominantly sluggish as compared to what has already been predicted due to the
lack of investment from the country itself. It has allocated a share of USD 1billion for
renewable technologies in all 17 Russian states in 2014 (Cherepovitsyn and Tcvetkov
2017).
Russia accounts for untapped renewable resources of energy. The non-fossil fuel
based energy of Russia contributes to only 3% of the total primary energy consumption of the country (Kutsenko 2015). Karelia, a federal subject of Russia, has a
low capacity of energy generation. It is still not sufficient as it imports power from
other regions of Russia. Hence, the Nord-Hydro model project is designed for the
enhancement in the capacity of power generation in the region and to facilitate the
development of renewable energy. The project in alignment with the New Development Bank has accelerated green financing and promotes clean energy development.
Two loans will be provided by the NDB in order to support the Eurasian Development Bank (EDB) and International Investment Bank for renewable energy projects.
The loans will accelerate the business scenario of the Nord-Hydro project to increase
the supply of energy through the renewable energy source in the Karelia region. The
Russian government supports the project with a preferential tariff. This project initiates the construction of a small dam and two hydroelectric, providing an installed
capacity of 49.8 MW in total. As much as 48,000 tons of carbon dioxide emissions
per year will be avoided with the proposed power generation.
Meanwhile, a rather challenging project is being developed in the Russian Federation Territory. The project is designed in January 2015 to run smart grids in Ufa
which slated to continue till 2019 as was planned. Concerning the expectation, after
the smart grids are deployed, the Bashkiria project implementation will raise the
region’s power supply to a whole new qualitative level without a surge in the investment planned. It is further expected to reduce power losses in Ufa by a factor of two
which in money terms would translate to 400 million rubles annually (Cherepovitsyn and Tcvetkov 2017). The experience is extensive and can be replicated in any
region where the power grid infrastructure properties are the same as Russia’s. The
prospects of exporting this technology are significant.
2.5 BRICS: Role of Brazil
Brazil, the energy surplus country, is undoubtedly in a comfortable position to achieve
its goals in the renewable energy horizon. In 2015, about 74% of the total energy generated came from renewable sources. Brazil has been one of the largest nations since
2007, contracting renewable energy through auction bidding. A pool of sophisticated
and new technologies has been adopted at regular intervals by the auction bidding
mechanism (La Rovere et al. 2011).
According to the IEEFA’s report, “Brazil’s 2024 Energy Plan envisages an increase
in total installed renewable capacity, including large hydropower, from 106.4 GW in
2014 to 173.6 GW in 2024.” But the current political situation prevents the development of this field. With the declined GDP growth, the country had to witness a
19
predominantly sluggish as compared to what has already been predicted due to the
lack of investment from the country itself. It has allocated a share of USD 1billion for
renewable technologies in all 17 Russian states in 2014 (Cherepovitsyn and Tcvetkov
2017).
Russia accounts for untapped renewable resources of energy. The non-fossil fuel
based energy of Russia contributes to only 3% of the total primary energy consumption of the country (Kutsenko 2015). Karelia, a federal subject of Russia, has a
low capacity of energy generation. It is still not sufficient as it imports power from
other regions of Russia. Hence, the Nord-Hydro model project is designed for the
enhancement in the capacity of power generation in the region and to facilitate the
development of renewable energy. The project in alignment with the New Development Bank has accelerated green financing and promotes clean energy development.
Two loans will be provided by the NDB in order to support the Eurasian Development Bank (EDB) and International Investment Bank for renewable energy projects.
The loans will accelerate the business scenario of the Nord-Hydro project to increase
the supply of energy through the renewable energy source in the Karelia region. The
Russian government supports the project with a preferential tariff. This project initiates the construction of a small dam and two hydroelectric, providing an installed
capacity of 49.8 MW in total. As much as 48,000 tons of carbon dioxide emissions
per year will be avoided with the proposed power generation.
Meanwhile, a rather challenging project is being developed in the Russian Federation Territory. The project is designed in January 2015 to run smart grids in Ufa
which slated to continue till 2019 as was planned. Concerning the expectation, after
the smart grids are deployed, the Bashkiria project implementation will raise the
region’s power supply to a whole new qualitative level without a surge in the investment planned. It is further expected to reduce power losses in Ufa by a factor of two
which in money terms would translate to 400 million rubles annually (Cherepovitsyn and Tcvetkov 2017). The experience is extensive and can be replicated in any
region where the power grid infrastructure properties are the same as Russia’s. The
prospects of exporting this technology are significant.
2.5 BRICS: Role of Brazil
Brazil, the energy surplus country, is undoubtedly in a comfortable position to achieve
its goals in the renewable energy horizon. In 2015, about 74% of the total energy generated came from renewable sources. Brazil has been one of the largest nations since
2007, contracting renewable energy through auction bidding. A pool of sophisticated
and new technologies has been adopted at regular intervals by the auction bidding
mechanism (La Rovere et al. 2011).
According to the IEEFA’s report, “Brazil’s 2024 Energy Plan envisages an increase
in total installed renewable capacity, including large hydropower, from 106.4 GW in
2014 to 173.6 GW in 2024.” But the current political situation prevents the development of this field. With the declined GDP growth, the country had to witness a