At ATOMEXPO International Forum Gazprombank and VetroSGC (a Rosatom company) signed an agreement on up to RUB 6.6 billion financing for the construction of additional wind farm capacity.
The deal is develops the existing cooperation between Gazprombank and VetroSGC. As it was earlier reported, in 2017 the parties had signed the loan agreement for RUB 63.1 billion to finance the construction of 610MW of wind farms with in the south of Russia. The new agreement will allow for financing of additional 50 MW of wind farms in the region.
Loan funds will be granted to VetroSGC as project financing, with the debt service cash flow to be generated by the VetroSGC’s revenues coming from the existing capacity supply contracts.
“Gazprombank is a key investor and reliable financial partner of VetroSGC in the wind farm construction project. With the agreement, signed today, we have ensured full funding for 660 MW of wind farms”, noted Alexandr Korchagin, the CEO of NovaWind, responsible for implementing the Rosatom’s strategy in the wind energy sector.
“Signing the agreement here, at Atomexpo forum, is the next step towards reinforcing cooperation with our strategic partner Rosatom. Wind energy sector as well as the entire renewable energy sector is certainly a top-priority industry for Gazprombank. New deal with VetroSGC confirms that cooperation between the Bank and Rosatom in the field of renewables will be beneficial and promising to the both parties”, said Vadim Dormidontov, Vice-President for Power and Utilities (Gazprombank).