Solar systems participated in the first financial conferenct "KOMMERSANT-VOLGA"/PRESS RELEASE

19.10.2016

October 19, 2016 – Solar Systems participated in the first Financial conference of "Kommersant" publishing house in Samara.

Within the framework of the session "Cost optimization, risk minimization and fundraising», the topic "Possible approaches to fundraising in current conditions" drew particular attention of the audience. Lack of project financing, reluctance of banks and funds to take risks, lack of guarantees when raising foreign currency financing, necessity for diversification and hedging, significant restrictions on support measures and subsidies for interest rates identified the relevance of this topic.

Solar Systems Deputy CEO for Investments and Finance Olga Bykova defined business architecture of approaches to fundraising: "Small, regional banks (outside the top 100) are much more flexible in the offered terms, as they don’t have access to the largest (including the state) corporations. When structuring the financing of certain stages of SPP construction, regional banks may be attracted as project investors. State support program can create a financial platform for a small segment of start-ups, not solving the whole problem. For successful implementation of a new stage of industrialization, Russia requires changes in the banking sector and adaptation of business culture of bankers to the realities of Russian business".

100,000 photovoltaic modules (250 W) will be installed within the framework of Samara SPP 1st stage construction. They will generate more than 33,500 MWh/year. 3 billion rubles – cumulative investment in the region. After the first stage of the SPP starts operating at full capacity, the regional budget will receive more than 130 million rubles of tax payments. Samara SPP will provide 25 MW of electricity to 33,000 people of the region. The ongoing investment program is a socially significant project of the energy sector. Renewable energy development in Russia also depends on stability of the formed financial basis.

Solar Systems, LLC was established in March 2014 for the purpose of construction and operation of solar power plants on the territory of Russia. The company is currently implementing projects in Samara and Astrakhan Regions. Solar power plants in Volgograd Region, Stavropol Krai and the Republic of Kalmykia are planned to be constructed in the next two years. Due to commissioning of 10 solar parks, total installed capacity of power systems of these regions will increase by 240 MW. Cumulative investments will surpass 38 billion rubles.