OREANDA-NEWS. The Board of RAO “UES of Russia” instructed the RAO UES representatives on the Board of Directors of OAO "HydroWGC" to vote for the approval of the company's participation in the Novaya Energia Not-for-profit Foundation for the development of renewable energy sources.

The Foundation's primary objective is to contribute to the overall development of the infrastructure which will facilitate the use of renewables in Russia.

Besides OAO "HydroWGC", other founders of the Foundation are the Non-government pension fund of the electricity industry and the Energy Carbon Fund of RAO "UES of Russia".

The Foundation will provide experts needed for the construction of small-scale HPPs, and the Energy Carbon Find will deliver innovation mechanisms for implementing renewable projects which will help increase energy efficiency and reduce greenhouse gas emissions.