More than €500mln Required for Construction of a Private Electric Station in Azerbaijani

Oil&Gas Materials 21 February 2008 21:38 (UTC +04:00)

Azerbaijan, Baku, 21 February / Trend corr I. Khalilova / The cost of the project on construction of a private electric station in Azerbaijani Alat settlement capable of 818 MW is estimated at AZN 640mln (€523mln), a source stated at Azerbaijan's Ministry of Economic Development. According to the feasibility study by South Korean KEPCO company, the station will be comprised of two gas turbines and one steam turbine.

As a result of installing modern gas turbines in the station, the station will use 0.185cu.m of gas to produce 1 KW electricity.

The Ministry involved international experts to assess the project. French BNP Paribas was involved as financial consultant, British Allen & Overy as legal consultant, MottMacDonald as technical consultant, Azerbaijani MGB as local legal consultant.

All project expenses will be covered by the investor. If Kepko's proposals will be favorable for Azerbaijan, the station will be constructed within 3-3.5 years. Currently Kepko's proposals are considered by Azerbaijan's Ministry of Economic Development and international consortium.