Ulyanovsk Sberbank’s Head Office Switches to Green Energy



PJSC Sberbank and JSC Mosenergosbyt signed an amendment agreement to the power supply agreement on the supply of green electricity produced at the Wind Energy Development Fund’s wind farm to the bank’s offices.

Mosenergosbyt, selected by Sberbank as part of a tender, began supplying green energy purchased on the wholesale market for electricity and power using the mechanism of free bilateral contracts.

The first office to be supplied with green energy was the head office of Sberbank in Ulyanovsk with a monthly consumption of about 90,000 kWh. Under the terms of the contracts, the electricity supplied will be generated at wind parks. The green energy supply started on October 1, 2020.

Stanislav Kuznetsov, Deputy Chairman of the Board of Sberbank PJSC commented, “Sberbank is always guided by the principles of conservation and rational consumption of resources in its operational activities. One of our new strategy priorities was the development of green initiatives, the creation of products and services within the environmental agenda, and the financing of such projects. “

For his part, Andrey Kovalev, General Director of Mosenergosbyt JSC, noted that the trend of social responsibility of business and citizens in terms of environmental impact is growing now. At the same time, the power supply company has already accumulated significant experience in supplying renewable energy to consumers.

According to Alexander Chuvaev, Executive Vice President of Fortum, Head of the Russian Division, CEO of Vetroenergetika Management Company (Wind Power Asset Management LLC), the cooperation of the Wind Energy Development Fund with Sberbank, as well as the company’s announced intentions to provide up to 30% of consumed energy come from renewable sources is an important step on the formation of a green electricity market in Russia.

He noted, “Today Sberbank has joined the leading international brands that strive to reduce their carbon footprint and contribute to the preservation of the planet’s climate. We are glad that the Fund’s wind farms contribute to the decarbonisation of production facilities and help market leaders implement sustainable development strategies.”

According to Alisher Kalanov, Deputy Head of the Investment Division RES of the RUSNANO Management Company, Chairman of the Board of Directors of Vetroenergetika Management Company, reducing environmental impact and switching to green consumption standards are part of the business practice of many large companies in the world. Sberbank was one of the first in Russia to voluntarily make a choice in favour of renewable energy. RUSNANO expects that wind power will become a pillar in the implementation of sustainable development strategies for other well-known brands in the Russian Federation, and the renewable energy industry, due to perceived demand, will receive an additional market-based incentive to commission new capacities.

The Wind Energy Development Fund was established on a parity basis by Fortum PJSC and Rusnano Group to invest in the Russian wind power.