Solar Systems LLC took part in II Forum of CFOs of the Energy industry/PRESS RELEASE
17.03.2017
On March 16-17, 2017, Solar Systems LLC took part in the 2nd Forum of CFOs of the energy industry, which was held in Moscow with the support of the CFO Club and the portal CFO-Russia.ru.
The session was attended by delegates of Solar Systems, the Ministry of Economic Development of the Russian Federation, T Plus, RusHydro, Tatenergo, Eurosibenergo, Gazprom Energoholding, MRSK Center.
Olga Bykova, Deputy General Director for Finance and Investments of Solar Systems LLC, shared her experience in improving the efficiency of project activities and the ways of attracting financing. Particular attention of the audience was attracted by the issues of debt arm for project companies, optimization of the scheme of projects for shareholders, attraction of new investors to the industry and PDM, as an income guarantee for banks and funds.
"The classical mechanism of project financing under current conditions in Russia is working poorly and, apparently, will not work in the near future. The lack of opportunities to finance start-up projects hinders the development of innovative sectors of the economy. Attracting long-term foreign exchange financing (even at attractive rates) looks risky. The real scenarios in modern Russia are the financing of the project with the involvement of regional banks or the construction of the first stage of the project entirely at the expense of shareholders with subsequent refinancing after its completion, "noted Bykova Olga, Deputy General Director for Finance and Investments of Solar Systems LLC.
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 11 solar parks, total installed capacity of power systems of these regions will increase by 255 MW. Cumulative investments will surpass 33,5 billion rubles.