Green Technologies for Eurasia’s Sustainable Future

Reports and working papers focus on current economic issues in EDB member states in the light of both regional and global economic developments.

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02 December 2021

Joint report by the Eurasian Development Bank and the Global Energy Association 

The report is prepared by the key international industry experts and young scholars. It contains the results of technical research aimed at solving today’s energy challenges and helping to reduce the carbon footprint in Eurasia. The focus is on hydrogen energy and energy storage systems, including those applied to the water and energy complex of Central Asia, offshore wind energy, hybrid materials for alternative energy technologies, CO2 capture, storage and transportation technologies. The report popularizes and supports research and development of green energy technologies, as well as promoting the expansion of cooperation in energy sector among the EAEU member states. 

Contents 

Welcome Address by Nikolai Podguzov

Welcome Address by Sergey Brilev

Welcome Address by William Byun

Hydrogen Energy   

CO2 Capture, Storage, and Transportation Technologies     

Offshore Wind Energy: Challenges and Perspectives

Hybrid Materials for Alternative Energetics       

The Use of Hydrogen as an Energy Storage System for Solving Challenges of the Water and Energy Complex of Central Asia

Afterword. A Full-Fledged Energy Shift is Ahead 


Welcome Address by Nikolai Podguzov, Chairman of the Management Board, Eurasian Development Bank 

The world energy system is on the verge of significant structural changes in which new clean energy sources are playing the leading role. Amidst rapid climate change and escalation of the global decarbonisation trend, the role of traditional sources of energy will be significantly redefined. Developing clean energy will significantly affect the structure of the Eurasian economies.

Introducing new energy technologies poses a number of complex issues of both a technological and an economic character. Applied research to advance energy technologies is a strategic element in addressing the challenge. We have to unlock the potential of green technologies, which will be able to promote the shift of the Eurasian countries to a new era. In this context, the EDB, as a key development institution of the EAEU, is seeking all-round cooperation with the leading think tank representing the intellectual core of the new energy industry in the region – the Global Energy Association.

The EDB has a key role to play in energy industry transformation. Our Bank is an active contributor to the formation of a green agenda and takes an active part in combating climate change and creating low-carbon energy in the Eurasian region. In 2019, the EDB Council enacted the Programme of financing renewable energy projects for 2020–2024. Such projects amount to 67% of the Bank’s energy portfolio. In accordance with the Council-approved EDB strategy for 2022–2026, the Bank will significantly expand its presence in “green” financing. The complex issues of the water and energy balance in Central Asia are a strategic priority of the Bank for the next five years. The EDB is planning to embark on a course extending from applied economics research, regulation, and technologies, through technical assistance projects, to large investment projects in the Central Asian region.

In the context of the growing global trend for green energy, a window of opportunity is opening for the Eurasian countries, for rapid technological innovation in promising areas. For example, in the field of hydrogen energy, the wide range of potential developments includes many possibilities – from an energy storage function to a technical gas for hydroskimming petroleum products and the production of low-carbon steel. Amidst intense competition among energy powers, the Eurasian countries will require shared use of scientific and technical potential. This will ultimately create a broad synergetic effect for the development of the region’s green energy.

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