TGK-2, Huadian break ground on 20-bln ruble CHP plant in Yaroslavl
YAROSLAVL. Sept 7 (Interfax) - The TGK-2 generating company and China Huadian Corporation Wednesday started to build the 450-megawatt Teninskaya steam-gas combined heat and power plant in Yaroslavl at a cost of 20 billion rubles, an Interfax correspondent reports from the ground-breaking ceremony.
The Chinese company will fund 70% of the cost and TGK-2 the remainder, partly in equipment, the genco's general director, Vladlen Alexandrovich, told Interfax.
The facility will enter service in 2013. Project costs will take more than ten years to recoup and 150 jobs will be created. Steam-gas technology will achieve an efficiency rate of 51.5%, compared with not more than 40% at traditional units. It will save up to 25% on fuel and cut atmospheric pollution 30%, and be effluent-free.
The new plant will resolve the local energy shortage and have a positive impact on the investment climate.
The investment agreement was signed in June last year.
Huadian is one of five state-owned Chinese power companies set up at the end of 2020, when the energy system was reformed. Its installed capacity is 77,500 MW and assets are worth an estimated $48.5 billion.
