Release date: 18 September 2008
Promoter – Financial Intermediary
OGK-5 JSCContact person: Mr Luca Sutera, OGK-5 Chief Financial Officer
Location
Description
Upgrade of the Nevinnomyssk GRES power plant in Southern Russia, including the rehabilitation of existing generating capacity and building of a modern, efficient Combined Cycle Gas Turbine (CCGT) unit to replace two old gas-fired steam units.
Objectives
The project aims to increase energy efficiency and to promote the differentiation of energy supply as well as operational safety of the energy infrastructure.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 250 million.
Total cost (Approximate amount)
Approximately EUR 500 million (including construction of the CCGT as well as rehabilitation of existing generating capacity).
Environmental aspects
Due to its size and technical characteristics, the project requires an Environmental Impact Assessment (EIA) under EIB guidelines. The EIA process has been initiated and its review will form part of the Bank's appraisal of the project. The project is expected to contribute to meeting growing electricity demand with a lower environmental impact than other fossil fuel based alternatives.
Procurement
The rehabilitation component of the project is expected to be procured under a number of separate works, supply and services contracts using mainly international tendering procedures. The new CCGT plant will be procured under a single Engineering, Procurement and Construction (EPC) contract. CCGT plant procurement has been initiated by OGK-5 under RAO UES public procurement practices, and the procurement has been completed after privatisation of the company.
Status
Signed - 26/03/2010
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).