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NovaWind and Gazprombank signed an agreement on interaction within the framework of organizing the financing of wind power projects


NovaWind and Gazprombank signed an agreement on interaction within the framework of organizing the financing of wind power projects

On March 25 in Sochi, as part of the first day of the XIII International Forum "Atomexpo", a ceremony was held to sign an agreement between NovaWind JSC and Gazprombank JSC on interaction within the framework of organizing the financing of projects for the construction of wind power plants. The total planned capacity of the projects will be 460 MW.

The subject of the agreement is to establish the basic conditions of interaction between the parties for the purpose of further crediting the construction of wind power plants in the period from 2025 to 2027 as part of the fulfillment of obligations under contracts for the provision of power from qualified generating facilities operating on the basis of renewable power sources.

"In our activities, we strive to maximize the "green" component and are interested in the further development of wind power projects in Russia. To date, we have already commissioned 9 wind farms with a total installed capacity of over 1 GW in the south of the country. Along with nuclear generation, wind power makes a significant contribution to improving the quality of human life and sustainable development. Continued work with Gazprombank is a confirmation of our strategic approaches to doing business. Various forms of "green" financing have already become a regular practice for our company," said Grigory Nazarov, General Director of NovaWind JSC.

"The Bank actively participates in the development of the Russian wind power market almost from the moment of its foundation. We continue to finance renewable power projects and see the demand for this type of power from investors. The agreement signed today confirms that our long-term cooperation with Rosatom in this area is fruitful and strategic," said Ilya Devichensky, Executive Vice President - Head of the Power, Telecom and Nuclear Industry Financing Department of Gazprombank.

Background information:

NovaWind JSC was founded in September 2017. The Company's circuit is focused on the management of key competences in the wind power industry - from design and construction to power engineering and wind farm operation. To date, over 1 GW of wind power capacity has been commissioned. In total, by 2027, the State Atomic Energy Corporation Rosatom (ROSATOM) will put into operation wind power plants with a total capacity of about 1.7 GW.

Gazprombank is among the top three leaders in the Russian banking industry in terms of main volume 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, mechanical engineering, transport, construction, communications, agro-industrial complex, trade and other industries. The Bank has many years of unique experience in organizing project financing and placing of 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.