Gazprombank begins financing projects for the construction of wind power plants.

26.03.2024       

March 25, 2024, Sochi — Gazprombank and NovaWind signed an agreement on cooperation in organizing the financing of projects for the construction of wind power plants. The signing ceremony between the parties took place in Sochi during the first day of the XIII International Forum "Atomexpo". The total planned capacity of the projects under the agreement will be 460 MW within the framework of the investment project for construction on the balance sheet of JSC VetroOGK-3.

The document defines the basic conditions for interaction between the parties in order to further lending for the construction of wind power plants in the period from 2025 to 2027. to fulfill obligations under contracts for the provision of capacity of qualified generating facilities operating on the basis of renewable energy sources.

“The Bank has been actively involved in the development of the Russian wind energy market almost since its grounds. We continue to finance renewable energy projects and see the demand for this type of energy from investors. The agreement signed today confirms that our long-term cooperation with Rosatom in this area is fruitful and strategic,” – said the Executive Vice President – Head of the Energy, Telecom and Nuclear Industry Financing Department of Gazprombank Ilya Devichensky.

“In our activities, we strive to maximize the “green” components and are interested in the further development of wind energy projects in Russia. To date, we have already commissioned 9 wind farms in the south of the country with a total installed capacity of over 1 GW. Wind energy, along with nuclear generation, makes a significant contribution to improving the quality of life of people and sustainable development. Continuation of work with Gazprombank – This is a confirmation of our strategic approaches to doing business. Various forms of "green" financing have already become a regular practice for our company,” – noted the General Director of NovaWind JSC; Grigory Nazarov.

For reference:

Gazprombank is one of the three leaders in the Russian banking industry in terms of main volumes indicators (according to INTERFAX-100. Banks of Russia).
Gazprombank provides a wide range of services to corporate and private clients. The bank serves key sectors of the Russian economy – gas, oil,chemical and petrochemical, metallurgy, electric power, transport, construction, communications, agriculture, trade and other industries. The Bank has many years of unique experience in organizing project financing and placing debt instruments on the Russian and international capital markets, providing financial advisory services in terms of project, corporate and debt financing, as well as experience in managing investments in companies both in Russia and abroad. The bank is included in the list of credit institutions authorized to open escrow accounts.

JSC "NovaWind" was founded in September 2017. The company focuses on managing key competencies in the wind energy industry – from design and construction to power engineering and operation of wind power plants. To date, over 1 GW of wind energy capacity has been commissioned. In total, until 2027, JSC NovaWind will commission wind power plants with a total capacity of about 1.7 GW.

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