EDB transfers the first tranche of the loan to construct the new unit at the Abakan CHP plant

Almaty, 16 July 2012. Eurasian Development Bank (EDB) has transferred to the Siberian Generating Company (SGC) Group the first tranche of the loan in the amount of RUR 1.5 billion to construct the new unit at the Abakan combined heat and power (CHP) plant.

In accordance with the loan agreement to finance turnkey construction dated 9 July 2012, EDB has opened a seven-year, RUR 9 billion non-revolving loan facility for the Yenisei Territorial Generating Company (TGC—13), which is a member of SGC.

The fourth turbine generator and a new steam boiler will be installed at the Abakan CHP plant. Water and fuel supply systems and the power generation system will be reconstructed. The new 120 MW unit is scheduled to be commissioned in October 2013. The investment project will increase the plant’s generating capacity by one third, from 270 MW to 390 MW.

The Abakan CHP plant is one of the largest electric power facilities in the Republic of Khakassia and the main supplier of heat for its capital, Abakan, accounting for about 80% of heat supplies to the consumers of the town’s housing and utilities sector.

Additional Information

The Siberian Generating Company Group is a leading producer and supplier of thermal and electric power in the Siberian Federal District. The group operates in Kemerovo Region, Altai and Krasnoyarsk Krais, the Republic of Khakassia, and the Republic of Tyva and accounts for approximately 20% of total generation by the Siberian Interconnected Power System. The main fuel used is coal and the main market is the wholesale market in electricity and power. The group includes Kuzbassenergo (TGC—12) and the Yenisei TGC (TGC—13). SGC is currently implementing a major investment programme worth over RUR 80 billion to construct new facilities under power supply agreements. It is one of Russia’s largest employers with over 19,000 people employed.

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.