5 Apr 2018 20:08

RusHydro to receive 5 billion rubles from Far East Development Fund for Sakhalin's GRES-2 project

MOSCOW. April 5 (Interfax) - RusHydro has concluded an agreement with the Far East Development Fund securing financing for the construction project of the GRES-2 coal-fired power plant in Sakhalin, the company said in a statement. The total loan amount is 5 billion rubles.

The annual loan interest rate will be 5% with repayment due no later than June 25, 2026.

The loan proceeds will be used to build offsite infrastructure for the Sakhalin GRES-2 power plant, RusHydro said. The loan will be sufficient to cover about 50% of those infrastructure costs. The discounted terms of the loan will help to optimize the rate RusHydro charges for electricity, it said.