Azerbaijan, Baku, Oct. 20 /Trend E.Ismayilov/
Azerenergy (production and distribution of electricity in Azerbaijan) will start commissioning work on a new 'Cenub' thermal power plant, the Head of Azerenergy (production and distribution of electricity in Azerbaijan) Etibar Piriverdiyev told reporters on Saturday.
According to him, the construction of the plant has already been completed installation work is nearing completion.
"Adjustment and alignment work will be launched in a short run," Piriverdiyev added.
The capacity of 'Cenub' power plant will amount to 780 megawatts. The power plant is planned to be commissioned by late 2012. It will work on three types of fuel: gas, diesel and fuel oil. From this point of view, this power plant is unique and has no analogue in the countries of Eastern Europe and the CIS.
Commissioning of the new power facility will enhance energy security of the Absheron peninsula and southern regions of the country, as well as improve efficiency of power transmission and distribution systems.
The total project cost is estimated at 664.1 million euros.
The consortium of 3 banks :Bayerische landesbank, Societe Generale and Credit Suisse, has contributed 300 million euro to the project. The loan is provided under a state guarantee for 10 years.
The Islamic Development Bank has approved funding at the amount of 134 million euros. In addition, the OPEC Fund for International Development has allocated $20 million, while the Abu Dhabi Fund for Development contributed $ 60 million.
The remainder of the project cost is covered by a loan from the Central Bank of Azerbaijan in the amount of 300 million manat.
The official exchange rate on October 20 is 0,7851 AZN / USD.