The town developed during the industrialization in the first half of the 20th century. The settlement of Zvanka with a train depot was built here while the railway connecting St. Petersburg with Vologda was being constructed. It was a part of Novoladozhsky Uyezd of St. Petersburg Governorate. A second rail line running north of the station towards Murmansk was constructed in 1916, making the station an important railway junction. In 1918, construction of the Volkhov Hydroelectric Station (the first in the Soviet Union) started on this spot. In 1926, the power plant became operational and in 1932, the first Soviet aluminum plant was launched nearby.