Issues of Transformation of Economic Relations and the Application of Contemporary Financial Instruments in the Energy Sector of the Russian Arctic Zone

The article focuses on topical issues of regional development, energy efficiency improvement, and the possibility of using new financial instruments for the implementation of projects. The result of the study is a detailed review of problematic issues of energy efficiency improvement and the search for new solutions in the field of energy production through the comprehensive implementation of measures for modernization and technological renewal of equipment. An important aspect is the generalization of the most promising investment instruments in the region, including “green” bonds, the use of crowdfunding platforms, and the implementation of public-private partnership projects. The directions of further development of the study are also proposed.