On Vnesheconombank's Participation in Financing the Kolomenskoye Co-Generation Gas-Turbine Power Plant

A ceremony to commission the Kolomenskoye Co-Generation Gas-Turbine Power Plant with a Capacity of 136 MW took place on July 1, 2009 in the Southern Administrative District in Moscow.

The total value of the project is about 240 million US dollars. Vnesheconombank financed the Kolomenskoye Co- Generation Gas-Turbine Power Plant Construction Project in the amount of 187.2 million dollars since March 2008 under the leasing scheme in cooperation with the Bank’s subsidiary – OJSC VEB-Leasing.

The Kolomenskoye Co-Generation Gas-Turbine Power Plant construction is the first project in Russia in Power engineering to have been implemented on the principles of project financing.

The project is being implemented under Moscow’s Energy Strategy for a Period of up to 2025 approved by a Resolution of the Moscow Government. Besides generating heat in the amount of more than 1 million Gcal per year, the Kolomenskoye Co-Generation Gas-Turbine Power Plant is also to generate about 77 million kWh, thus making it possible to drastically reduce electric power shortages and enhance electric power security in the Moscow region. The project’s implementation would help create new jobs.

Under the Memorandum on the Bank’s Financial Policies the development of energy infrastructure is one of Vnesheconombank’s main lines of investment activity.

Origin: Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34

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