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    VEB and Solar Systems plan to support energy infrastructure projects/PRESS RELEASE

    02.06.2017

    During the St. Petersburg International Economic Forum, Bank for Development and Foreign Economic Affairs (Vnesheconombank) and Solar Systems signed an agreement on cooperation. The document was signed by the member of the management board of the Bank Dmitry Kurdyukov and the Chairman of the Board of Directors of Solar Systems Mikhail Lisyansky.

    The following priority areas of work were identified: support of investment projects for energy infrastructure, implementation of projects aimed at improving energy efficiency, development of innovations.

    "The agreements reached by Solar Systems on investment partnership open new opportunities for the development of the renewable energy industry in Russia. We highly appreciate the cooperation with Vnesheconombank and are confident in the success of the implemented initiatives," – Mikhail Lisyansky noted.

    "Russian companies have recently intensified the implementation of projects in the field of renewable energy. The VEB Group is ready to invest in the energy infrastructure, in particular, in projects in the field of solar generation. Financing of such projects is a characteristic feature of development institutions," – Dmitry Kurdyukov said.

    At present Solar Systems is implementing 11 projects for the construction of solar power stations with total installed capacity of 255 MW in five regions of Russia.

    The combination of financial and organizational efforts will contribute to the development of the Russian economy, and will also give a new impetus to the diversification of the energy sector.

    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 3 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 be 33.5 billion rubles.

    State Corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)" is a national development bank, one of the largest Russian financial institutions. The bank was founded in 1924, since 2007, it operates on the basis of a special federal law on the Bank for Development. The supreme management body is the supervisory board, which is headed by the Chairman of the Government of the Russian Federation Medvedev D.A. According to the Development Strategy until 2021, VEB will concentrate on financing industrial projects, infrastructure development, support of non-resource exports, assistance in the process of transferring defense technologies to civilian ones, support of innovations and projects of the National Technological Initiative.