Moscow, 29 July 2020 — Gazprombank has been selected as a financial partner of the State Atomic Energy Corporation ROSATOM for a 340 MW wind power plant (WPP) construction project and is to provide 40 billion rubles funding to ROSATOM’s subsidiary VetroOGK-2 for 12 years.
WPPs are built as part of a government support program for renewable energy facilities through a mechanism of capacity supply agreements. The WPP construction is to take two years, with energy supplies to the wholesale electricity and capacity market starting as early as the end of 2022. The price terms of the loan are tied to meeting the project’s target indicators of sustainable development at the stage of construction and operation.
“This is the largest industry deal that fully confirms Gazprombank’s great interest in low carbon energy projects. We have sufficient experience, expertise and mechanisms for financing their construction, which, apart from meeting climate agenda objectives, promotes the development of some other industries, namely localization of high-tech equipment manufacturing,” Alexey Belous, Deputy Chairman of the Management Board, commented.
“The construction of the 340 MW WPP is a pilot project that implements sustainable financing mechanisms, which is of utmost importance to ROSATOM in terms of fulfilling the objectives of long-term and sustainable development. By and large, today ROSATOM is implementing a whole host of projects that require involvement of reliable financial partners. I am sure, Gazprombank will help us deliver on such objectives,” Ilia Rebrov, Financial Director of ROSATOM, pointed out.
The Bank continues successful cooperation with ROSATOM on the program for supporting renewable energy facilities. Gazprombank has already been its financial partner before − in the 660 MW WPPs construction projects in Adygea and Stavropol Territory implemented by the State Corporation companies.
The implementation of this deal will bring the total installed capacity of wind power plants built by ROSATOM in partnership with Gazprombank to 1 gigawatt (over 100 billion rubles).
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