Sber to finance construction of two solar power plants in Bashkiria

Sep 23, 2021

Sber is financing the construction of two solar power plants, Agidel SPPs in the Republic of Bashkortostan, with an aggregate capacity of 9.98 MW. OOO Kurai Solar, a Solar Systems Group company, has received the first tranche of RUB 300 mn. Project finance will approximate RUB 900 mn.

Both scheduled to be commissioned in June 2022, the power plants will generate energy for retail use. Funding will be provided for 12 years; this was outlined in the memorandum Sber and Solar System signed in February 2021.

Vladimir Sitnov, senior vice president, Sberbank:

“Our long-term cooperation with Solar Systems is extremely important for the development of green power generation in the country. Early this year, we signed a memorandum to expand the partnership in renewable energy and now have provided the first tranche of RUB 300 mn for the construction of solar power plants in Bashkortostan. Renewable power plants help to decarbonize the domestic economy, and we systematically finance their construction in various parts of Russia, which is aligned with our ESG strategy. I am confident that together we will be able to minimize human impact on the environment, providing the country with green energy, which does not require the burning of fossil fuels.”

Previously, Sber had financed the construction of RES facilities with an aggregate capacity of 335 MW. These investments secured the construction of Solar Systems’ major wholesale power plants in Astrakhan Region, Volgograd Region, Samara Region, Stavropol Territory, and the Republic of Bashkortostan.