EDB to finance Yenisei TGC's investment project

EDB’s loan will be used to construct a new unit at the Abakan combined heat and power plant.

Almaty, 19 June 2012. Eurasian Development Bank’s (EDB) Council endorsed the Bank’s participation in financing the construction of a new unit at the Abakan combined heat and power (CHP) plant for a total of up to RUR 9 billion. The loan facility agreement with Yenisei TGC (TGC—13), a branch of which is the power plant, is expected to be signed in July 2012.

The Abakan CHP plant is a coal plant. It is the largest power enterprise in the Republic of Khakassia and the main supplier of thermal power for the town of Abakan. The plant supplies heat to approximately 77% of consumers in the town’s housing and utilities sector. Industrial enterprises, including Ayan and Abakanvagonmash, are also major consumers of thermal power.

EDB’s investment financing is provided in the framework of TGC—13’slarge-scale investment programme.

The fourth turbine generator is planned to be installed at the Abakan CHP plant to meet the increased load caused by higher electricity demand and growing construction in Abakan’s housing and utilities sector. The new 120 MW unit is planned to be commissioned in October 2013.

The project provides for the launching of new generating facilities in Eastern Siberia, which will create conditions for the development of economy, primarily Khakassia’s industrial, housing and utilities infrastructure, and for ensuring sustainable economic growth in the regions where TGC—13 operates.

Additional Information

Yenisei Territorial Generating Company (TGC—13) is a united company created after the merger of Krasnoyarskaya Generatsiya OJSC and TGC—13OJSC with Khakassia Generating Company. Yenisei TGC’s (TGC—13) core operations are the generation and supply of electricity, steam and hot water (thermal power). Yenisei TGC is one of the largest generating companies in Siberia, accounting for about 81% of thermal power and about 17% of electricity supplies in the region of its operations (Krasnoyarsk Krai and Khakassia).

Eurasian Development Bank 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 exceeds US $1.5 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. Read more at https://www.eabr.org.