RusHydro wins EMEA Finance award for its deal to finance Vostochnaya CHP in the Far East
Funding for construction of the Vostochnaya CHP secured by RAO ES of East, subsidiary of RusHydro, from European Bank for Reconstruction and Development (EBRD) and European Investment Bank (EIB), backed with guarantees from RusHydro, received award as Best Utilities Deal in CEE in the Magazine’s Project Finance Achievements Awards 2013. The Achievement Awards-2013 ceremony took place in London on June 5.
The 12 years RUB 8 bn loan will finance the construction of 140 MW Vostochnaya CHP in Vladivostok. EBRD and EIB provide RUB 4 bn each.
Konstantin Bessmertny, member of RusHydro’s Management Board, said: “Construction of new generating capacity in the Far East will contribute to reliability of power supply in the region. Support of our projects by major financial institutions plays an important role in successful implementation of RusHydro’s investment projects”.
Christopher Moore, Publisher & CEO, EMEA Finance, commented: “We are delighted to be recognizing the successful funding of RusHydro’s new gas-fired combined heat and power (CHP) plant, the first new power plant in Russia’s Far East for 30 years. This plant will replace an existing coal-fired heating facility in Vladivostok city, and will create improved energy efficiency and cut carbon emissions. The management at RusHydro is adept at accessing international capital markets, we have recognized them before in our Achievement Awards, and they are worth winners of our Best power deal in CEE award in our Project Finance 2013”.
EMEA Finance Magazine» is a London-based independent publication specialized in financial markets of Central and Eastern Europe, Middle East and Africa. In the framework of its annual Achievements Awards survey the Magazine gives awards for best deals in 20 nominations.
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