24 Dec 2024 16:08

Eurasian Development Bank lends $240 mln for Karaganda CHPP-3 modernization

ALMATY. Dec 24 (Interfax) - The Eurasian Development Bank (EDB) has provided $240 million to Karaganda EnergoCenter LLP for the construction of a new power unit at the CHPP-3 combined heat and power plant in Karaganda, Kazakhstan, the bank's press service reported.

The parties signed an agreement to open a long-term credit facility of $240 million to finance the Karaganda CHPP-3 modernization and expansion project for a period of 13 years.

The project is expected to increase the electricity capacity of Karaganda CHPP-3 by 140 MW and heat capacity by 180 Gcal/hour.

The project will solve the problem of the lack of electric capacity in the Karaganda energy hub and increase the efficiency and reliability of CHPP-3. It will also provide additional heat to more than 400 residential and public buildings, improve heat supply and ensure compliance with high safety standards.

Karaganda EnergoCenter LLP is the only centralized supplier of heat and the largest electricity supplier in the city of Karaganda. It is part of the Kazakhstan Utility Systems Group of Companies. The company includes two combined heat and power plants: CHPP-1 and CHPP-3. The installed electricity capacity of CHPP-3 is 670 MW, and available capacity is 532.2 MW, while heat capacity is 1,069.1 Gcal/hour.

The new power unit should go into service at the end of 2027, design and estimates are underway.

Kazakhstan Utility Systems Group of Companies is a vertically integrated holding company engaged in the generation, transport and sale of electrical and thermal energy. The company was established in 2008. The main activities of the LLP are power generation, heat generation, power transmission, heat and power sales. The company is present in four regions - Karaganda, Turkestan, East Kazakhstan and Mangistau.

EDB is an international development bank with authorized capital of $7 billion. Its shareholders are Russia, Kazakhstan, Belarus, Armenia, Kyrgyzstan and Tajikistan. Uzbekistan is in the process of joining the bank.