Sberbank CIB has organised a line of credit worth RUB 5.6 bln for RAO Energy Systems of East PJSC (part of RusHydro Group), which will be used to construct off-site infrastructure for the CHP (combined heat and power) plant in Sovyetskaya Gavan.
Financing1 will be used to construct a heat supply system for the town of Sovetskaya Gavan and the adjacent areas, and railway lines leading to the CHP plant.
This RUB 7 bln project was approved by the inter-agency committee under the Ministry of Economic Development as part of the Programme for Supporting Domestic Investment Projects.
The 12-year loan will be secured by a guarantee from Vnesheconombank and a surety from the borrower’s parent company – RusHydro PJSC.
Vadim Logofet, Head of the Energy Division of Sberbank CIB’s Client Management Department, commented: “For many years Sberbank has provided considerable financial support to the investment projects of power industry clients. The construction of a new CHP plant and the related infrastructure is vital for the Sovgavansky District and Khabarovsk Region in general. The project will replace obsolete capacity of the aging Mayskaya thermal power station and form necessary reserve capacity to cover growing demand for electricity and heat in the Sovgavansky District of Russia’s Far East.”
“This line of credit will enable us to cover the financing of construction of off-site facilities needed for the CHP plant which is currently being built in Sovetskaya Gavan,” commented Alexey Yakovlev, CFO of RAO Energy Systems of East PJSC.
Information for editors
RAO Energy Systems of East PJSC
RAO Energy Systems of East PJSC was founded on July 1, 2008 following the reorganisation of RAO UES of Russia OJSC. The holding includes Far Eastern energy companies such as: FEDC JSC, DGC JSC, FEEC PJSC, AK Yakutskenergo PJSC, Magadanenergo PJSC, Kamchatskenergo PJSC, Sakhalinenergo OJSC, Peredvizhnaya Energetika PJSC and a number of other companies. The installed electric capacity of the Far Eastern energy companies that make up RAO Energy Systems of East PJSC is 8,968 MW; heat energy – 17,975 Gcal/h. The length of the power grid is more than 102,000 km. RusHydro PJSC is the main shareholder.
Public Relations Department of RAO Energy Systems of East PJSC:
Nadezhda Rukina (Moscow)
+7 (985) 211-59-48
Anastasia Brazhina (Vladivostok)
+7 (914) 704-27-56
Sberbank CIB is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance1 (including trade finance), the documentary business, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.
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