ROSATOM and Gazprombank expand cooperation in wind energy up to 1 GW

Gazprombank and VetroSGC-2 JSC, which is a part of ROSATOM, announced the final closure of a complex bank financing deal for a wind power plant project in Russia with a total installed capacity of 340 MW. The commissioning date for the last wind power plant is scheduled for December 2022.
As part of the deal, Gazprombank will provide VetroSGC-2 with financing in the amount of 40 billion rubles for a period of 12 years. Gazprombank also gained a 49.5% share in the capital of the project company VetroSGC-2. The controlling stake in VetroSGC-2 remains in the ownership of ROSATOM entities.
Since 2017, the Bank has been financing the first ROSATOM project for the construction of 660 MW of green capacity, 360 MW of which has already been commissioned, and the remaining 300 MW is planned to be put into operation by the end of this year.
“Commitment to sustainable development is in line with global trends and is enshrined in ROSATOM's strategy. We strive to maximize the green, sustainable component of our product portfolio. We certainly consider both wind generation and atomic power to be such green activities due to the minimal emissions of greenhouse gases. It is important for us to see that the end user and the market as a whole also perceive our work in terms of sustainable development, consider our products as environmentally friendly and aimed at improving the quality of human life. The deal with Gazprombank is an excellent experience for us and it confirms our strategic approaches to doing business. We hope that various forms of green financing will become a regular practice for ROSATOM,” said Kirill Komarov, ROSATOM First Deputy Director General.
“We are pleased to announce the strengthening of our successful cooperation with ROSATOM and the conclusion of the second joint wind power deal, which is in line with the Bank's ESG strategy. Successful experience in the VetroSGC project made it possible to arrange financing of the VetroSGC-2 project in the shortest possible time, and optimize the level of support from the project initiators. Together with the VetroSGC project currently underway, the total ROSATOM green capacity financed by the Bank reached 1 GW to a value of over 100 billion rubles. The focus on low-carbon energy sources has been growing significantly in recent years, and Gazprombank is actively financing sustainability projects,” noted Alexey Belous, Deputy Chairman of the Management Board, Gazprombank.
“As part of wind energy projects, ROSATOM has established a full range of competencies in the new industry – from the creation of its own wind turbine production and an effective supply chain with the involvement of ROSATOM enterprises to the construction of wind farms, commissioning, further operation and maintenance of wind power plants. ROSATOM's two largest wind farms are already supplying electric power to the Russian unified grid. Four other wind power plants will be commissioned this year. We plan to further increase the portfolio of orders in Russia, and enter international markets as a developer of renewable energy projects with Russian equipment,” noted Aleksandr Korchagin, NovaWind CEO.
For reference:
NovaWind is a specially established wind energy project division of ROSATOM, and its main task is to consolidate ROSATOM’s efforts in the frontend segments and technological platforms of electricity generation. The company was established in September 2017. Enterprises within NovaWind focus on the management of all ROSATOM competencies in wind energy sector – from wind farm design and construction to power engineering and operation.
In total, until 2024, Rosatom will commission wind power plants with a total capacity of approximately 1.2 GW.
Gazprombank is among the top three Russian banks in terms of key volume indicators, and is one of the largest financial institutions in Central and Eastern Europe.
Gazprombank provides a wide range of services to corporate and private customers. The bank provides services to key sectors of the Russian economy – gas, oil, chemical and petrochemical, metallurgy, electric power industry, engineering, transport, construction, communications, agriculture, trade and other industries.
Retail business of Gazprombank is focused on providing modern high-tech products and services. At the beginning of 2020, the Bank serves about 5 million individual customers, the retail loan portfolio at the end of 2019 is more than 550 bn rubles, the portfolio of retail deposits is more than 480 bn rubles.

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