Yerevan thermal power plant to seek loan worth $450mln for the second power unit

Yerevan thermal power plant to seek loan worth $450mln for  the second power unit

YEREVAN, July 2. /ARKA/. The Yerevan thermal power plant is planning to seek a loan worth $450 million for modernization of its second unit, general director of the plant Hovakim Hovhannisyan told reporters on Tuesday.

Armenia’s government gave permission for attracting lending resources for reconstruction of the second unit at the Yerevan thermal power plant, secured on the plant’s real estate.


The negotiations on investments are under way, and the Japanese side, according to the preliminary agreements, is ready to provide a soft loan, Hovhannisyan said. The general director refrained from specifying the loan terms though.

Modernization of the second unit will allow enhancing efficiency substantially, Hovhannisyan said. He also said if a loan worth $450 million is provided a power unit of 400-450 megawatt can be built.

The Yerevan thermal power plant was modernized and equipped with a new steam-gas unit of combined cycle and was re-commissioned in April 2010. Total rated capacity of the new plant is 271.7 megawatt; the production output is 242 megawatt and thermal output is 434.9 gigajoules-hours. The new steam-gas unit was constructed in cooperation with the Japanese Bank for International Cooperation that provided a loan worth $247 million for 30 years with a 10-year grace period. –0--

11:08 02.07.2014

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