Renewable energy

> 60%
of domestic projects in the renewable energy are implemented with credit support from Gazprombank

The development of renewable energy is one of the most important trends in the Russian electric power industry and one of the fastest developing sectors in the global economy. It represents a step forward in terms of technology, digitization, and environmental standards.

At present, over 60% of domestic projects in the renewable energy field are implemented with credit support from Gazprombank, which confirms the Bank’s strong interest in green energy projects. The Bank team completed the industry’s first solar power plant construction financing deal back in 2015, and Gazprombank sees good prospects for the financing of more renewable energy projects.

In November 2019, Gazprombank and the portfolio company of the Wind Energy Development Fund (a joint investment fund established by Fortum and the ROSNANO Group on a parity basis) signed a loan agreement for the purposes of financing the construction of 50.4 MW wind power plant No. 2 in Ulyanovsk and two wind generation plants with a total capacity of 200 MW in the Republic of Kalmykia. The wind generation farms will start supplying electricity to the wholesale electricity and capacity market (WECM) in the fourth quarter of 2020.

In January 2021, Gazprombank entered into a package transaction with VetroSGC-2 (subsidiary of Rosatom) for financing a construction of wind power plants in Russia with total power output of 340 MW. The key feature of this transaction is that its parameters do not depend solely on economic indicators but also on sustainable development goals.