Is Russia's power grid crumbling?
As much as 80 percent of the hydroelectric power plants and more than 60 percent of the thermal energy facilities are in need of maintenance, Russia's Gazeta.ru reports.
In August, two water ducts collapsed at the Sayano-Shushenskaya power station in Siberia, flooding a turbine hall. A fuel tank also ruptured, sending oil into the Yenisei River. Three hydroelectric units were destroyed and seven others were damaged.
Auditors at KPMG said Russia needed at least $500 billion to repair the electric grid, though independent analysts said that sum is not enough.
Yekaterina Tripoten, an analyst at independent financial consulting company Sovlink, said it was unlikely private investments could raise the funds needed to repair and modernize Russia's dilapidated electricity infrastructure.
Related News
Europe's stunted hydro & nuclear output may hobble recovery drive
LONDON - Shortfalls in Europe's hydro and nuclear output have more than offset record electricity generation from solar and wind sites over the first quarter of 2023, leaving the region vulnerable to acute energy shortages for the second straight year.
European countries fast-tracked renewable energy capacity development in 2022 in the wake of Russia's invasion of Ukraine last February, which upended natural gas flows to the region and sent power prices soaring.
Europe lifted renewable energy supply capacity by a record 57,290 megawatts in 2022, or by nearly 9%, according to the International Energy Agency (IRENA), amid a scramble to replace imported…
