Announced Term to Launch New Power Station in Azerbaijan
Azerbaijan, Baku, 5 November/ Trend , corr. S.Aliyev / The launch of the Sumgait based combined-cycle plant is scheduled for December 2008," Marlen Askarov, the Vice President of the Azerenergy joint-stock company, said on 5 November. At present, the stations is balancing and commissioning.
The capacity of the Sumgait power station is 525 MWt. According to specialists, the station's annual production capacity is 3.8bln KWt/h, production expenditure - 1 KWt/h of electric energy-230gm of fuel. The annual gas fuel demand in the station is 63mln cu m. The cost of the project to construct the combined-cycle plant is estimated at € 257mln.
The financing agreement was signed with the Bayern LB bank (German), Societe de General and BNP Paribas (both are French). Three banks issue equal share for 15 years (the first three prevailed years) with the loan Libor +0.55% rate. The project is also envisages the construction of 107km plot of high-voltage electricity transmission lines. A gas pipeline is also planned to construct to supply the station with gas. The project's cost is € 30mln.
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