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    Reference: 20120284
    Release date: 8 February 2013

    Promoter – Financial Intermediary

    Open Joint Stock Company Energy System Vostoka is a state-controlled monopoly utility of heat and electricity generation. It supplies electricity and heat to the Far East region of Russia.



    The project consists of a new combined heat and power plant, situated on industrial brownland site in Vladivostok, supplying heat for the district heating of the city and electricity to the regional network.


    The project is part of larger programme to bring natural gas to Russian Far East towns, and allows switchover from coal to natural gas as the primary energy source. The replacement of coal by natural gas as fuel for district heat generation would reduce emissions, increase heat production for the envisaged expansion of the district heating network and facilitate the introduction of the EU best available techniques (BAT) standards in the Russian thermal generation bringing environmental and energy efficiency performance to the best international practices.


    This operation is covered by the EU Guarantee for EIB loans outside the EU.


    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 91 million

    Total cost (Approximate amount)

    EUR 245 million

    Environmental aspects

    Due to its size and technical characteristics the project requires an Environmental Impact Assessment (EIA) under EIB guidelines. A gap analysis will be performed to identify the differences between EU and Russian environmental requirements in order to define additional elements necessary to complete the EIA up to EU standards, and to add social elements for full Environmental and Social Impact Assessment (ESIA). The project is expected to contribute to meeting electricity and heat demand with a lower environmental impact than other fossil fuel based alternatives.


    The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank’s Guide to Procurement.


    Signed - 2/10/2013


    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).

    Related tags

    Russian Federation Energy