Vnesheconombank will consider its involvement in the construction of a wind farm in the Ulyanovsk Region

At the St. Petersburg International Economic Forum, Vnesheconombank and Energiia vetra signed an agreement for cooperation on the construction of the Novoulyanovskiy wind farm in the Ulyanovsk Region.

The agreement has been signed by Alexey Ivanchenko, Deputy Chairman and Member of the Management Board at Vnesheconombank, and by Sergei Dzhurinskiy, representative of Energiia vetra. The project has been presented at VEB by Olga Ukhanova, Regional Manager.

The project provides for the construction of a wind farm – a generating facility driven by a renewable energy source (RES)– with a total output up to 75 MW (twenty-nine 3.6 MW turbines) near Novoulyanovsk. It will be the only site in Russia operated under a Capacity Supply Agreement (CSA) with a private investor and a yield of 14%. The price tag for the project stands at RUB 7.1 bn, with VEB's potential commitment to be RUB 5.2 bn.

"This project falls in line with the Bank for Development strategy. Energy infrastructure is one of our priorities among other industries. VEB is exploring a number of development projects for RES-based distributed generation. We are also integrating digitally-enabled smart control systems for electric grids," said Alexey Ivanchenko.

"The wind farm project in Novoulyanovsk will diversify our portfolio of RES projects by adding wholesale wind energy. Our group entered the RES market in 2013 when we won several CSA tenders. We have been focusing on solar energy for quite a while, but now that localised manufacturing of wind turbine parts has advanced a great deal in Russia, we are poised to build 75 MW wind farms in the Ulyanovsk Region. I am confident that the partnership with VEB will enhance this project and will have a positive impact on its performance," said Sergei Dzhurinskiy from Energiia vetra commenting on the initiative.

Press Office