Solar Systems of Solar Systems

Solar Systems LLC is a company whose main areas of activity are related to the construction and operation of solar power plants in Russia and abroad.

History

2021

Attraction of 21 billion rubles of investments from Ingka Group

On April 13, 2021, Ingka Group announced its investment in Solar Systems. Under the terms of the agreement, the owner of Ikea will buy 49% in the subsidiaries of the Russian company - in LLC Sunlight Energy, LLC Fifth Project Company, LLC Sixth Project Company. The transaction cost is 21 billion rubles, the press service of Ingka reports.

By April 2021, Solar Systems owns solar power plants in the Volgograd, Astrakhan regions and the Republic of Bashkortostan. The total installed capacity of these assets is 160 MW. They will be able to provide electricity to all 17 IKEA stores, as well as part of the Mega shopping centers in Russia, Ingka noted.

Ikea spent 21 billion rubles on solar energy in all its stores in Russia

Ingka Group also emphasized that this is the first large-scale foreign investment in renewable energy sources in Russia by a non-energy company.

Since 2009, the company has invested 2.5 billion euros in renewable energy sources worldwide. The group owns and manages 547 wind turbines in 14 countries, two solar panels and 935 thousand solar panels on the roofs of Ikea stores and warehouses.

Ingka's total renewable energy capacity exceeds 1.7 gigawatts, which equals the annual consumption of more than 1 million European households. According to the company's own data, it produces more energy from renewable sources than it consumes during its own activities.

In Russia, the group installed 823 solar panels and five 300-kilowatt wind turbines at its facilities. They are located in Rostov-on-Don, Samara, Novosibirsk, Kazan, Ufa, Adygea and St. Petersburg.

By April 13, 2021, the deal between Ingka and Solar Systems is under inspection by the Federal Antimonopoly Service (FAS) of Russia.^[1]

Agreement with Sber to Expand Renewable Electricity Cooperation

Sber and Solar Systems announced on February 18, 2021 that they had signed an agreement to expand the strategic partnership. Within the framework of the signed memorandum, it is planned to expand cooperation in the field of renewable energy sources (RES): financing the construction of retail projects of solar power plants, programs for the modernization of production capacities, the acquisition and construction of foreign projects, as well as joint implementation of projects in the development of RES following the results of competitive selections in 2021.

For several years, renewable energy projects have been the focus of Sber's attention. We have financed projects of one of our key partners - Solar Systems Group of Companies - in the construction of green energy facilities with a total capacity of 305 mW. The signing of this agreement is an important milestone in terms of our ESG agenda, which provides for concern for the environment and reducing the carbon footprint of both Sber and our customers and partners, "said Vladimir Sitnov, senior vice president of Sberbank.

We are pleased to work and continue cooperation with Sberbank as a partner that shares our values ​ ​ and invests in the development of renewable energy in Russia, using all available innovations and solutions of the Sber ecosystem, "said Mikhail Molchanov, CEO of Solar Systems.

The parties will continue to implement joint projects for trading certificates confirming the origin of electricity ("green" certificates). In addition, Sber will provide the company with comprehensive support in the field of application of the bank's ecosystem products, including the transformation of the current partner business model.

As of February 2021, the Solar Systems portfolio includes 405 MW solar power plant projects in seven regions of Russia.

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