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A syndicate of commercial banks is expected to participate in this loan as well.

The key criteria for EBRD financing projects, in particular, include conformance of the investment project to the latest technology standards and international environmental requirements, and the opportunity to make a more efficient use of energy resources. The project being financed includes the replacement of legacy coal-fired generation units with the new combined cycle unit, deployment of Health, Safety and Environmental Protection Management System, and a series of other initiatives to improve the environmental footprint of the power plant (including reduction of carbon emissions).

“Besides securing financial support to the investment activities of our Group, our strategic cooperation with EBRD promotes the implementation of a reliable corporate governance system, partly to ensure our compliance with the highest international standards of environmental protection. Comprehensive approach to the financing of this project helps us make our Group more attractive for investment and access a wider range of debt financing opportunities,” said Dmitry PALUNIN, Member of the Management Board and Head of Financial and Economic Center, JSC Inter RAO.