Russia's Gazprombank to Loan Rosatom $1.1Bln for Construction of Wind Farms

Gazprombank will provide a loan of 64.6 billion rubles ($1.1 billion) to the Rosatom state nuclear corporation for the wind farms construction in Russia, according to the Rosatom procurement website.

MOSCOW (Sputnik) – VetroOGK, part of Rosatom, will attract 64.6 billion rubles from Gazprombank in two tranches. The amount of the first tranche is to stand at 57.4 billion rubles, the amount of the second tranche is estimated at up to 7.2 billion rubles. The loans must be payed off no later than December 31, 2026, according to the website.

Rosatom considers wind energy projects to be one of the most promising of their non-nuclear growth points. The state corporation estimated that wind energy market in Russia by 2024 could reach a turnover of about 200 billion rubles a year.

In 2016, Rosatom secured a contract for the construction of three wind farms in Russia with the total capacity of 610 MW, which is about 17 percent of the total wind power capacity planned to be commissioned in Russia until 2024.

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