January 9, 2020 — An agreement was signed on Gazprombank’s provision of credit to finance the expenditures previously incurred by T Plus Group in the construction of solar power-plants, with the designation of a special solar-power business unit within the Group’s structure.
Bank financing has already covered five solar power-plants put into operation in Orenburg Region. The total capacity of these solar power-plants is 145 MW.
The respective facilities are being provided by Gazprombank within the framework of project financing. The revenues generated by the SPP within the scope of capacity supply agreements (RES CSA) will be the source of credit servicing.
Gazprombank is an active participant of public initiatives involving the development of green energy, which has great potential according to experts. As of today, over 60% of all national renewable energy projects are being implemented with Gazprombank’s credit support. The first deal on financing the sector’s construction of a solar power-plant was implemented by the Bank’s team back in 2015.
Background:
Gazprombank (Joint-Stock Company) is one of the largest multi-faceted financial institutions in Russia, providing a wide range of banking, financial and investment products and services to corporate and private customers, financial institutions, institutional and private investors. The Bank is one of the three largest banks in Russia by all major indicators and ranks third on the list of banks in Central and Eastern Europe in terms of equity.
The Bank provides services to enterprises and companies in key sectors of the Russian economy. Retail business is also a strategically-significant activity area for the Bank and its scope is gradually expanding. In this sector, Gazprombank is one of the three leaders by key indicators: consumer credits, mortgage lending and deposits. At present, over 5 mln individuals use Gazprombank products and services. The Bank implements a strategy of retail business development by increasing its efficiency through the active digitalization of key processes, as well as synergy with its corporate business, since the Bank is an absolute leader by its number of clients and volume of portfolios across a whole range of sectors. Gazprombank holds strong positions on the domestic and international financial markets as one of the Russian leaders in the organization and underwriting of corporate bond issuance, asset management, as well as in the field of private banking services, corporate financing and other areas of investment banking.
Currently, Gazprombank owns seven subsidiary banks in Russia, Belarus, Switzerland and Luxembourg; financial companies in Cyprus and Hong Kong; has representative offices in Astana (Kazakhstan), Bejing (China), Ulan Bator (Mongolia) and New Deli (India).
In Russia, Gazprombank’s regional network is represented by 20 branches. The total number of offices providing high-quality banking services exceeds 350.
T Plus Group is the largest Russian private company operating in the field of electric power and heat supply and owns more than 6% of the total installed capacity of Russian power-plants. The company provides steady and continuous energy supply in 16 Russian regions. More than 14 mln individuals and over 160,000 legal entities are clients of the company. T Plus Group encompasses 62 power-plants, including 54 TPPs, 3 SDPPs, 2 HPPs and 3 SPPs.