The two Beloporozhsky stations are the first ever investments in Russia by the bank established jointly by the five BRICS countries - Brazil, Russia, India, China and South Africa.
The hydropower project will have a production capacity of 49,8 MW. They will be located in the river Kem, which starts in Finland and flows into the White Sea. The two stations are due to start power production in 2019.
It is the company Nord Hydro, one of Russia’s leader developers of small-scale hydropower projects, which will build the stations. From before, the company has built three stations in the republic.
«I am confident that the New Development Bank could become a significant source of long-term investments for the financing of huge infrastructure projects in Russia», bank Vice President Vladimir Kazbekov added.