Azeri government dispatched a request to KFW of Germany for provision of financial agreement on construction of AzGRES-Imishli power line, governmental official told Trend. The bank issued E 30mln under the project.
The project includes construction of 195km long power lines from AzGRES to Imishli, building substation in Geranboy and increase of power supply at Imishli substation with
capacity 330 kW through addition of one cell. Power line construction will result in capacity increase from current 200 MV to 700 MV.
German bank will finance the project through issuing a credit for a period of 12 years.
The banks Baku representation officials said the terms of this project had been softened due to the issue of a grant by German Fund for Power Saving and efficient use of power with Federal government of Germany. This is the first time Azerbaijan receives such funds from Germany, which supposedly considers Azerbaijan a part of Europe.