OREANDA-NEWS. September 19, 2011. In the course of the 10th Sochi 2011 International Investment Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’and OJSC the Tutaev CCPP (a subsidiary of OJSC the Yaroslavl Power Generating Company) entered into a Credit Agreement to fund the construction of a combined cycle power plant in the city of Tuitaev (the Yaroslavl region).

On behalf of Vnesheconombank the Agreement was signed by Management Board Member – Vnesheconombank Deputy Chairman Anatoly Ballo and on behalf of OJSC the Tutaev CCPP – by Director General of the Yaroslavl Power Generating Company Viktor Tamarov.

The Agreement provides for Vnesheconombank to provide credit resources worth 2.4 billion rubles for a period of 15 years for the construction of a functional combined cycle power plant (CCPP) and relate engineering infrastructure on the territory of the existing boiler plant in the city of Tutaev. The combined power plant will have an electric capacity of 52.5 MW and a thermal capacity of Gcal/h. The project’s total value is 3billon rubles.

The power plant is an advanced cogeneration plant. The use of high-technology combined cycle equipment will substantially increase the generation of thermal and electric energy. The plant is scheduled to be put in operation at the end of the 4th quarter of 2012.

The project’s implementation would help create an advanced energy infrastructure, increase fuel utilization efficiency as well as ensure reliable electric and thermal power supply to consumers.

The project is being implemented in the subprogram “Increased Energy Efficiency in the Energy and Fuel Complex of the Yaroslavl Region through Developing Combined Heat and Power Cogeneration” of the regional target program “Energy Saving and Increased Energy Efficiency of the Yaroslavl Region for 2010-2012 and for a period of up to 2020”.