• Sberbank ready to contribute to industry modernization as financial partner and expert on strategy and implementation of investment ideas

October 4, 2019, Moscow - Sberbank as an official partner of the Russian Energy Week 2019 has held a discussion called 'Investment in the Sustainable Development of the Energy Sector: New Opportunities and Current Obstacles' during the event.

Alexandra Panina, Chairman of the Supervisory Board of Council of Power Producers, was a moderator. Aleksey Grenkov, Vice President of Sberbank; Maksim Bystrov, Chairman of the Board of NP Market Council; Kirill Komarov, First Deputy General Director, Director of Development and International Business Unit of ROSATOM State Atomic Energy Corporation; Carlo Palasciano Villamagna, General Director of Enel Russia; Stephan Solzhenitsyn, Director General of Siberian Generating Company; Mikhail Khardikov, General Director of Eurosibenergo; Alexander Chuvaev, Executive Vice President, Head of the Russia Division of Fortum Corporation; and Leonid Neganov, Deputy General Director of Rosseti, took part in the discussion.

By 2022, the launch of the last nuclear power units under the capacity supply agreement should complete the first large-scale investments cycle for the contemporary Russian energy industry. Generation equipment modernization is still far from complete, but it has already faced new global challenges, such as digital revolution, environment protection, and consumer profile changing. The participants discussed what main industry and general economic goals should be achieved at the new investment cycle, what investment potential the industry has, how the financial institutions are preparing themselves for it, and other relevant issues.

Aleksey Grenkov, Vice President, Sberbank,

'Although electrical energy capacity is excessive in Russia, a significant part of it requires modernization. Sberbank is ready to take part in the financing of new investment programs because this mechanism is clear, and a similar power delivery contract program in thermal generation proved to be working well.

Sberbank is pro-active lending money to the industry. Its aggregate power investment portfolio is worth more than RUB 600 bln.

Viewing banks only as a source of financing is traditional, but very old-fashioned. With our clients we work not only on financing issues, but also on strategy and implementation of different investment ideas. Call this a 'platform' function of the bank, or give it any other name, but the essence won't be changed - banking industry in general and Sberbank in particular are becoming full members of the industry dialogue, and our panel discussion is a bright example of it.'

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Sberbank published this content on 04 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 October 2019 16:26:09 UTC