EIB to lend €100 million for modernisation of Russian power generation

• 11 years ago (2013-10-05)
• David Flin

Europe 1089 North America 1021

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The European Investment Bank (EIB) has announced that it will lend €100 million to support the modernisation of power and heat generation technology in Vladivostok. The project is part of a larger programme to bring natural gas to the region, enabling a switch from coal to natural gas as the primary energy source and reducing CO2 emissions.

The loan will finance the installation of three new CHP gas turbine units, which will increase electricity and heat production, and bring environmental and energy efficiency into line with best practice.

The operation is being carried out under the EIB’s Climate Change Mandate for non-EU countries introduced in 2011, and is being co-financed with the European Bank for Reconstruction and Development.

Each of the three new units will consist of a 46.5 MW high-efficiency gas turbine and an associated 40 Gcal/h heat recovery hot water generator. This will help to cover the heat base-load throughout the year in Vladivostok and supply electricity to the region. The project also includes the installation of three heat-only boilers, each of 100 Gcal/h, to cover winter and peak loads, and replace the old heat-only boilers currently being used.