The EDB extends long-term financing for Enel Rus Wind Azov, Enel Russia’s 100% subsidiary, to build a 90 MW wind farm in Rostov Region

22 November 2018

Moscow, 22 November 2018. The Eurasian Development Bank (EDB) and Enel Rus Wind Azov (Enel Russia’s 100% subsidiary) signed a RUB 9.5 billion long-term loan facility agreement to finance the construction of a 90 MW wind farm in Azov District, Rostov Region. The long-term loan in the Russian roubles resulted from an agreed financing scheme based on the mechanism of renewable power supply agreements and the Bank’s ability to raise necessary long-term funding in the national currency.

The Azov wind farm will generate some 300 GWh a year and ensure a significant reduction in hydrocarbon emissions. It will supply electricity to the wholesale market as an eligible generating facility based on renewable energy sources under respective power supply agreement. The wind farm is scheduled to be commissioned in 2020.

According to Russia’s local content requirements, 65% of equipment for the facility (including construction and installation works) will be produced in Russia. The localised manufacture of wind farm components is expected to promote high-tech production in Russia, which, in turn, will foster the development of renewable energy sources in Russia and other member states of the Bank.

“Financing green energy projects is one of the Bank’s priorities. We are happy to support Enel Russia in implementing such an important wind power project in Russia,” Vsevolod Smakov, Head of Energy and Industry at the EDB, commented.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.

Enel Russia

Enel Russia is part of the Enel Group. Enel Russia’s production branches are Konakovskaya GRES, Nevinnomysskaya GRES, Sredneuralskaya GRES, and Reftinskaya GRES, Its aggregate net installed capacity is 9,428.7 MW for power and 2,382 GCal/h for heat. The company’s share capital is RUB 35,371,898,370 divided into ordinary shares with a par value of RUB 1. Enel SpA holds 56.43% of the share capital, PFR Partners Fund I Limited 19.03%, Prosperity Capital Management Limited 8.23%, and other minority shareholders 16.31%. Enel Russia’s shares are included in MOEX Level 1 List.

The company, then named OGK-5 Open Joint-Stock Company, was registered in Yekaterinburg on 27 October 2004. On 7 July 2009, the annual general meeting of shareholders renamed it as Enel OGK-5, and on 8 August 2014, Russia’s Federal Tax Service Inspectorate registered its revised charter changing the corporate name to Enel Russia. On 25 June 2015, the company changed its form of incorporation and was renamed as Enel Russia Public Joint-Stock Company.

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The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)                    

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)                    

pressa@eabr.org

Enel Russia Press Office:

EnelRussiaPressOffice@enel.com

Tel.+7495 5393131, ext. 7634

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