Agreement on Financing Ekibastuzskaya GRES-2 Signed

Today in Yalta, the Eurasian Development Bank, Vneshekonombank, Ekibastuz GRES-2, Samruk-Energo and INTER RAO EES signed the Agreement on Indicative Terms of Financing the Construction of the Third Power Generating Unit of Ekibastuzskaya GRES-2, in the presence of Vladimir Putin, Chairman of the Russian Government, and Karim Masimov, Prime-Minister of Kazakhstan.

The parties confirmed their interest in implementing in Kazakhstan a large-scale investment project of Ekibastuzskaya GRES-2, whose shareholders are Samruk-Energo and INTER RAO EES. It is expected that long-term financing will be provided by the EDB and Vneshekonombank in accordance with the proposed terms.

The parties agreed to consider the project materials and make final financing decisions as soon as possible. Should an agreement be reached on all material terms of financing, the parties will set the final terms of participation in the project by adopting the necessary corporate resolutions and executing loan and security agreements.

The EDB has already established partnership with Ekibastuzskaya GRES-2, Samruk-Energo and INTER RAO EES. In particular, the EDB has provided Ekibastuzskaya GRES-2 with a ten-year credit facility for a total of $93.5 million to finance its Technical Rehabilitation Programme.