EDB guarantees construction of Sakhalin GRES 2
Moscow, 9 August 2016. Eurasian Development Bank (EDB) provided an 18-month advance payment guarantee for a total of RUB 4.999 billion to Sakhalin GRES 2 at the request of Mosenergo. The project envisions the construction of one of four facilities under RusHydro's investment programme for the construction of new power facilities in the Far East in accordance with the Decree of the President of Russia on the development of the region's power sector. The project is being run in cooperation with RAO Energy Systems of the East, the largest electricity and heat supplier in the Far East.
The new plant is expected to meet the growing demand for electricity and heat, replace the retired facilities of Sakhalin GRES, create additional capacity, and improve power supplies. The project is intended to increase the overall capacity of the isolated power system of the island of Sakhalin, with due regard to future economic demand. The proposed Sakhalin GRES 2 will help to improve reliability of the region's power infrastructure in order to ensure industrial growth in the area and support its growing residential sector.
The project plans to create 77 jobs. Around 1,200 jobs will be created by subcontractors. In addition, as the only consumer of local power plant coal at Sakhalin, Sakhalin GRES 2 will help to create approximately 4,000 jobs in the region's coal mining sector.
The power and heat generating capacity of Sakhalin GRES is 120 MW and 18.2 Gcal/hour, respectively. The first phase of the project is expected to construct site infrastructure for plant units. The aggregate capacity of the units will be 330 MW.
Additional Information
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
EDB Media Center:
+7 (727) 244 40 44 ext. 6147 (Almaty)
+7 (495) 645 04 45 ext. 2732 (Moscow)
e-mail: pressa@eabr.org