Project number:


Business sector:

Power and energy

Notice type:


Environmental category:


Approval date:

16 Dec 1997



PSD disclosed:

24 Nov 1997

Project Description

A loan of up to US$ 50 million (ECU 45 million) to fund capital expenditure and for general corporate purposes. To finance the completion of a strategic asset and for general corporate purposes.

Transition Impact

The project will help improve the efficiency of AO Mosenergo's network and help a privatised utility by providing long-term loan financing and by introducing it to the long-term bank loan market.

The Client

AO Mosenergo, founded in 1887, is the utility providing electricity and heat to the Moscow region.

EBRD Finance

Corporate loan of up to US$ 50 million (ECU 45 million).

Project Cost

US$ 160 million (ECU 145 million).

Environmental Impact

The project was screened as B/1, requiring an Environmental Analysis and an Environmental Audit.
Independent environmental consultants were commissioned to carry out the Environmental Analysis and Audit of the power station to be financed from the proceeds of this loan. The consultants also carried out a review of Mosenergo's corporate environmental, health and safety performance.
The company has developed a Strategic Environmental Programme to the year 2010 that identifies pollution control measures to improve the company's environmental performance. The Programme is based on emission control and water and waste-water treatment projects which are consistent with best practice technologies implemented in western Europe.
Specific environmental mitigation measures to address issues identified during the Environmental Analysis will be included in the project scope and in an Environmental Action Plan, which is currently being prepared by Mosenergo. The Environmental Action Plan will form part of the legal agreements between the Bank and the client, and its implementation will be closely monitored by the Bank.
Mosenergo will provide the Bank with annual reports on environmental, health and safety matters and the implementation of the Environmental Action Plan.

Technical Cooperation


Company Contact


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

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Text of the PIP

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