Rosatom, Russia’s state-owned nuclear energy corporation, is a key player not only in the energy sector but also in the country’s broader economic landscape. As the largest electricity generating company in Russia, Rosatom’s influence extends beyond the nuclear industry into renewable energy, technological innovation, and national infrastructure development. Here’s a deeper look at Rosatom’s role in shaping Russia’s energy future and its ongoing impact on the economy.
Dominance in nuclear power generation
Rosatom is the largest electricity generating company in Russia. According to the Strategic Report of the Rosatom Group for 2023, the company operates 35 nuclear power units at 11 nuclear power plants (NPPs) and one floating nuclear thermal power plant across the country. These facilities together provide a significant portion of Russia’s electricity, with a total capacity of 29.6 GW. In 2023, the company produced 217.4 TWh of electricity, which accounts for 20.28% of the country’s total electricity production. This makes Rosatom a cornerstone of Russia’s energy infrastructure, particularly in providing stable and reliable electricity through nuclear power.
Workforce contribution
In 2024, Rosatom employed abound 400,000 people across its various divisions and subsidiaries. This workforce is central to Rosatom’s ongoing growth and its efforts to advance nuclear and non-nuclear energy projects in Russia and internationally. The company plays a vital role in providing high-quality jobs and supporting local economies, particularly in such remote regions as Murmansk, Yakutia and Chukotka.
Non-nuclear assets
According to International Financial Reporting Standards (IFRS), Rosatom’s civilian assets are concentrated in its holding company, Atomenergoprom. As of December 31, 2022, Atomenergoprom comprised 222 enterprises that, inter alia, expanded Rosatom’s activities into non-nuclear sectors and diversified its revenue streams.
According to the 2023 Strategic Report, Rosatom’s 10-year order portfolio for non-nuclear products stood at ₽3224.1 billion, highlighting the company’s ambition to develop advanced technologies across various industries. In 2023, Rosatom’s revenue from these non-nuclear sectors reached ₽1100.4 billion, illustrating the growing significance of this diversification.
One key example of this diversification is Rosatom’s investment in renewable energy. The company has made strides in the wind energy sector through its division Rosatom Renewable Energy JSC. It focuses on the development of advanced wind energy technologies. At present, Rosatom has commissioned nine wind farms, collectively generating 1 GW of power. By the end of 2023, these wind power plants had produced 2.27 TWh of electricity, contributing to Russia’s renewable energy capacity.
Ongoing projects in nuclear power
Rosatom’s commitment to advancing nuclear power technology is evident in its ongoing construction projects. Currently, four large power units are under construction in Russia — two at the Kursk-2 Nuclear Power Plant and two at the Leningrad-2 Nuclear Power Plant. These projects aim to modernize Russia’s nuclear energy infrastructure and increase its electricity generation capacity.
In addition to these traditional power units, Rosatom is pioneering the development of next-generation nuclear reactors. One such project is the experimental power unit with the BREST-OD-300 reactor, a fast neutron reactor designed to enhance safety and fuel efficiency.
Rosatom is also working on smaller-scale nuclear energy solutions, which could revolutionize power generation in remote or hard-to-reach areas. As of 2023, Rosatom approved the technical plan for a low-power onshore nuclear power plant featuring the RITM-200N reactor in Yakutia. This reactor is specifically designed for remote locations, where traditional power infrastructure is difficult to implement due to geographical challenges. The RITM-200N reactor will provide a sustainable, low-carbon energy source for such regions, further cementing Rosatom’s role in shaping Russia’s energy future.
Conclusion
Rosatom’s importance to Russia’s economy and energy sector cannot be overstated. As the largest electricity generating company in the country, its role in nuclear power generation is central to Russia’s energy security. Additionally, Rosatom’s expanding presence in renewable energy, coupled with its efforts to develop advanced nuclear technologies, ensures the company’s relevance in the modern energy landscape. Whether through its vast workforce, its diverse range of projects, or its ongoing commitment to innovation, Rosatom continues to be a cornerstone of Russia’s economic and energy development, both domestically and globally.
