Azerbaijan, Baku / / Trend / The Azerenergy company intends to put into commission a new combined-cycle plant with a 517-megawatt capacity. Siemens will complete construction in the territory of the Sumgayit electric station, said Marlen Askarov, the vice president of the company.
Construction of the electric station is expected to be finished at the beginning of 2008.
The yearly productivity of the new electric station is 3.8bln kilowatt per hour. The annual fuel demand of the station makes up 630mln cu m of gas. Expenditures for the production of 1 kilowatt per hour of electric energy amounts to 230 gram of standard coal.
The total cost of the project is € 257mln.
An agreement to finance the project was signed with Bayern LB bank ( Germany), Societe de General (France) and BNP Paribas (France). All three banks have allocated equal shares of credits LIBOR + 0.55% for fifteen years.
Within the framework of the project, construction of 107km high-voltage lines of electric transmissions is planned. The pipeline was laid to transport gas to the electric station. The cost of the pipeline will amount to € 30mln.
Azerenergy signed the agreement with Siemens to construct the combined-cycle plant in Sumgayit.