“Russian Energy Week” International Forum, dedicated to energy subjects, was held in Moscow and St. Petersburg from October 3 till October 7. Prospects for the development of the Russian fuel and energy complex and the possibilities for international cooperation in the field of energy were discussed at the event.
Chairman of the Executive Board of RUSNANO Corporation Anatoly Chubais announced the company's intentions to develop wind power projects in his speech. For these purposes, a tender was issued among banks to attract loan funds for the financing of projects in the field of wind power. It is necessary to attract a total of approximately RUB 70 billion to implement the projects.
“To date, borrowed funds are cheaper than venture capital financing for renewable energy owing to the conclusion of power delivery contracts (PDCs), according to which a profitability of 12% is guaranteed. Due to the flexible mechanisms of PDCs, we will be able to maintain an equity share in the projects from 20 to 25 percent. Now all major banks of the country provide their terms for consideration, and we will choose only the best of them,” Anatoly Chubais stated. Thus, the corporate head plans to finance the majority of works on wind energy projects using borrowed funds.
According to Alisher Kalanov, head of the Perspective Energy Projects Unit of the MC RUSNANO, the final results of the tender will be announced early in the year 2018. He also added that the possibility of loan participation of banks is not excluded in such a situation.
The attraction of new RUB 70 billion demonstrates a sharp increase in the level of investments in the Russian wind power sector, since earlier RUSNANO in partnership with the Finnish company Fortum had already established a fund in the amount of RUB 30 billion designed for the financing of wind power projects and the establishment of plants for the production of wind power equipment. The start-up of the first wind farm within the framework of this partnership is scheduled for the end of 2017 - the beginning of 2018. Thus, taking into account the plans of Gazprom and Rosatom in this direction, it should be noted that large Russian corporations are keenly interested in renewable energy, and in wind energy in particular.