Renova Rosnano Altai Portfolio 64 MW

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Solar plants are being built in Altai as part of an investment program of the Sponsors to build 900 MW solar power plants in Russia. The portfolio consists of 7 plants with total generation capacity of 64 MW. Isyangulovskaya Solar Power Plant LLC, Orlovgayskaya Solar Power Plant LLC, Matraevskaya Solar Power Plant LLC, Altayskaya Solar Power Plant LLC are the SPVs which are undertaking the construction and operation of the plants on behalf of the sponsors Renova (51%) and Rosnano (49%). Solar power plants are the final borrowers in the transaction and each of them benefit from Power Supply Contracts to provide power under fixed capacity payments during 15 years. Total investment cost is $127.3 million and is being funded through debt and equity in 72:28 ratio. Project financing is provided solely by Gazprombank in the amount of $91.9 million. The sponsors will contribute equity on a pro rata basis. Total equity contribution stands at $ 35.4 million. Financial closure occurred on 27 December 2017. Gazprombank submission form