The European Bank of Development and Reconstruction (EBDR) is ready to allot approximately $115m for reconstruction of the Azerbaijani SDPS in Mingachevir town ,” Etibar Pirverdiyev, the President of Azerenerji JSC, told Trend. “The negotiations have been held for 3 years. The credit agreement on the project may be signed early 2006 and the bank can present
it for 20 years with 3-year grace period at annual rate LIBOR+0,50-0,55%,” he underlined.
“The reconstruction is necessary due to depreciation of devices. The SDPS spends over 380 grams fuel on production of 1KV/H energy, but after the reconstruction the figure will reduce to 330 grams. Besides, the station will be able to save over 4000 tons mazut,” Pirverdiyev stressed.
Besides, the reconstruction will allow restoration of the capacity of the SDPS. “Current capacity comprises 2100MV, but after the reconstruction the figure will make up 2500 MV,” he added.
According to Pirverdiyev, the amount of required investments is approximately $17m.