January 27, 2021 — Gazprombank and VetroOGK-2 JSC (part of Rosatom) announced the final closing of a comprehensive transaction on the provision of bank financing for a project involving the construction of wind power plants in Russia with a gross installed capacity of 340 MW. The last WPP is expected to be put into operation in December 2022.
Within the framework of the deal, Gazprombank will provide the sum of RUB 40 bn to VetroOGK-2 JSC for a term of 12 years.
Additionally, Gazprombank acquired a share in the capital of VetroOGK-2 JSC design company — 49.5 %. A controlling share of VetroOGK-2 JSC remains in the ownership of Rosatom State Corporation.
Since 2017, the Bank has financed Rosatom SC’s first project involving the construction of a facility with a green capacity of 660 MW, 360 of which have already been commissioned, with the remaining 300 MW expected to be brought to the operating stage by the end of the year.
“We are pleased to announce the further strengthening of successful cooperation with Rosatom SC and the conclusion of our second joint deal in the field of wind electric power that complies with the Bank’s ESG strategy. Having the successful experience of implementing VetroOGK JSC’s previous project made it possible to quickly arrange financing for VetroOGK-2 JSC and to improve the level of support from the project’s initiators. Together with the VetroOGK JSC project that is already being implemented, the cumulative volume of Rosatom SC’s green capacities financed by the Bank amounts to 1 GW or over RUB 100 bn. Low-carbon energy sources have been attracting increasing attention lately, and Gazprombank is taking active part in the financing of sustainable development projects,” said Alexey Belous, Deputy Chairman of Gazprombank’s Management Board.
“Commitment to sustainable development aligns with emerging global trends and is enshrined in Rosatom’s strategy. We strive to maximize the green component that meets sustainable development goals for our product line. We are definitely considering wind generation and atomic power green activities because they cause minimal greenhouse gas emissions. It is important for us to see that the end consumer and the market in general perceive our work through the prism of sustainable development and view our products as environmentally-friendly and aimed at improving the quality of human life. The deal with Gazprombank is a great experience for us and a confirmation of our strategic approaches to business. We hope that various forms of green financing will become a regular practice for Rosatom,” shared Kirill Komarov, First Deputy CEO of Rosatom State Corporation.
“Within the framework of the implementation of wind power projects, Rosatom has established a full range of competencies in a new sector: from creating its own wind-turbine manufacturing facility and an efficient supply chain with the engagement of State Corporation enterprises to the construction of wind farms, pre-commissioning activities, follow-up operations and WPP service. Rosatom’s two largest wind farms already supply electric power to the Russian national grid. Another 4 WPPs will be launched this year. We plan to extend our order portfolio and enter the international markets as a developer of RES projects featuring Russian equipment,” said Alexander Korchagin, CEO of NovaWind JSC.
Gazprombank ranks among the TOP 3 leaders of the Russian banking sector by the three main volume indicators, as well as among the largest financial institutions in Central and Eastern Europe.
Gazprombank provides a wide range of services to corporate and private clients. The Bank provides services to key sectors of the Russian economy — gas, oil, chemical and petrochemical, metallurgy, electric power, mechanical engineering, transport, construction, communications, the agro-industrial complex, trade and other industries.
Gazprombank’s retail business is focused on providing modern high-tech products and services. As of the beginning of 2020, the Bank was providing services to roughly 5 mln individual customers. The Bank’s retail loan portfolio at year-end 2019 stood at more than RUB 550 bn, with a retail deposit portfolio in excess of RUB 480 bn.
At Rosatom State Corporation, wind-power projects are implemented by a specially-established division — NovaWind JSC. Its main objective is to consolidate the State Corporation’s efforts in advanced segments and technological platforms of electric power. The company was founded in September 2017. NovaWind is focused on managing all of Rosatom’s responsibilities in wind power: from design and construction to power engineering and wind power plant operation.
All in all, Rosatom is expecting to put wind power-plants with a total capacity of roughly 1.2 GW into operation by 2024.