The Azerenerji Joint Stock Company (JSC) and the European Bank for Reconstruction and Development (EBRD) will sign an agreement on allocation credit for rehabilitation of the AzerbaijanвЂ™s Hydro-Electrical Power Station (HEPS) in Mingyachevir 300 km west of Baku in early 2006, the companyвЂ™s president Etibar Pirverdiyev stated, the press service of Azerenerji told Trend.
Reconstruction of the stationsвЂ™ all 8 energy blocks is supposed to be performed in the framework of the project. The physical capacity of energy blocks at the station is 2100 РњWt, after the reconstruction it will reach 2500 РњWt.
Р•BRD is ready to allot some $115 million for the project. The Bank may credit for 20 years with the 3-year preferential period at the yearly LIBOR+0,5% rate.
В"The Russian factory вЂњElectrical MachinesвЂќ set to updating the block N5 at HEPS on the account of the International Bank of Azerbaijan credit. At the result of the talks we will take a decision on reconstruction of the remaining 7 energy blocks", вЂ" he noted.