Gazprombank to Grant 40 bln RUB Credit to VetroOGK-2 for Wind Farm Construction



Gazprombank was selected as a financial partner of the Rosatom State Corporation in 340 MW wind projects. The banking house will provide the VetroOGK-2 with financing worth 40 billion roubles for a period of 12 years.

The wind power plants are being constructed under the state support programme for the renewable energy facilities through capacity supply agreements. The construction will take two years and the supply to the wholesale market for electricity and power is scheduled to start by the end of 2022. The price terms of the loan are linked to the implementation of the projects’ target indicators of sustainable development at the construction and operation stage.

“This transaction is the largest in the industry and fully confirms Gazprombank’s high interest in low-carbon energy projects. We have enough experience, expertise and mechanisms to finance their construction, which, in addition to solving the tasks of the climate agenda, contributes to the development of a number of other industries, in particular, localisation of high-tech equipment production,” Alexei Belous, Deputy Chairman of the Management Board, commented.

The construction of the 340 MW WPP is a pilot project where sustainable financing mechanisms have been implemented, which is extremely important for the Rosatom in the context of addressing long-term and sustainable development issues.

Gazprombank continues its productive cooperation with Rosatom under the programme to support green facilities. Previously, the bank had already acted as a financial partner in wind projects in the Adygeya Republic and the Stavropol Krai (660 MW totally). As a result of this transaction, the Rosatom’s operated wind farms installed capacity will reach 1 GW (over 100 billion roubles).