Gazprombank began banking support for projects of PJSC Sakhalinenergo


October 24, 2023, Vladivostok — Gazprombank and Sakhalinenergo company entered into an agreement for the provision of banking support services for contracts following the Bank’s victory in the open procurement procedure. The signed document became the first banking support agreement with the regional energy company of the RusHydro Group in the Far East.

Within the framework of the agreement, PJSC Sakhalinenergo intends to reconstruct overhead power lines and an electrical substation using banking support. Thus, support will be provided to contracts concluded by the customer with contractors within the framework of the program to ensure sustainable operation of the electric grid complex of the Sakhalin region (POUREC): in total, it is planned to support projects for the reconstruction of five facilities worth more than 12 billion rubles. The work will be completed until 2031.

Earlier in 2022, a specialized Gazprombank Banking Support Center was opened in Vladivostok for uninterrupted work with clients in the Far Eastern Federal District.

“Gazprombank is interested in further expanding its partnership with RusHydro Group for banking support of contracts. We see great potential in supporting projects for the reconstruction and construction of regional energy infrastructure facilities, which involve the supply of equipment and materials from a large number of contractors. I am confident that this experience will be scaled up to other regional energy companies, which will introduce the tool of banking contract support into their own procurement procedures in order to make the most efficient use of funds,” – noted the Executive Vice President – Head of the Bank's contract support department Oleg Melnikov.

Source: Gazprombank