1 Apr 2024 17:12

GPB withdraws from capital of Rosatom renewable ventures

MOSCOW. April 1 (Interfax) - A Gazprombank entity is no longer a shareholder of VetroOGK-2, a Rosatom company developing wind farm construction projects, according to its statements.

"GPB-Windgeneration entered the capital of VetroOGK-2 in 2021. Back in 2022, GPB-Windgeneration owned 49.5% in the company's capital. However, according to statements for 2023, since November 9 last year, the entity's shareholders are exclusively Rosatom companies - the state corporation itself, NovaWind and AtomCapital.

"The bank withdrew from the project, selling its stake, and plans to continue financing and investing in renewable energy projects, as it sees the demand for this type of energy on the part of investors," the bank's press service told Interfax in response to a relevant inquiry.

"VetroOGK-2 is controlled by NovaWind, a wind power division of Rosatom, and is an operator of renewable energy systems. The company previously won a tender for the right to build 1 GW of RES facilities between now and 2027.

Earlier, the GPB entity was also part of the capital of the first "VetroOGK", but withdrew from it in 2021, according to reports. The first VetroOGK (also controlled by NovaWind) won tenders for 660 MW of RES projects in the past and, according to the division's website, has built and commissioned all of them.

NovaWind also has another controlled entity, VetroOGK-3. While this company has no personnel, NovaWind is its only shareholder. According to its statements, the company is an operator for an investment project for construction of wind power plants in 2025-2027. The project envisages construction of the 300 MW Novolakskaya HPP in Dagestan with commissioning in 2025, as well as "prospective wind generation facilities with installed capacity of 140-165 MW" with commissioning in 2026.

Earlier in March, NovaWind and GPB signed an agreement during Atomexpo "on cooperation in organizing financing for wind farm construction projects" with a total capacity of 460 MW. As was specified in the statement, the subject of the agreement was "establishment of basic conditions of interaction between the parties for the purpose of further crediting of construction of wind power plants in the period from 2025 to 2027 as part of fulfillment of obligations under contracts on provision of capacity of qualified generating facilities operating on the basis of renewable energy sources".

The company has already commissioned nine wind farms with a total capacity of more than 1 GW, NovaWind chief Grigory Nazarov said then.