The proposed project involves completion of construction of a new 180MW unit at the TETS-5 CHP power plant in St Petersburg.
The Bank’s involvement will provide critical support to a major Russian regional utility during a period of major restructuring of the country’s electricity industry. Assisting Lenenergo to implement a power and heat generation investment project will provide a model for the industry. The project will have a major social impact in St Petersburg by ensuring longer-term stability in electricity and heat supply to over half a million people in a major industrial area. The project will also result in significant environmental benefits through efficiency enhancement.
Lenenergo open joint-stock company, an integrated utility that generates, supplies and distributes electricity and heat in the city of St. Petersburg and its neighbouring regions. Lenenergo is 49% owned by RAO Unified Energy System of Russia.
Up to €40 million 7-year corporate loan to Lenenergo to finance capital investments for the completion of a new 180MW unit at the TETS-5 CHP power plant.
Screened B/1. An environmental audit of the existing TETS-5 power plant and an environmental analysis of the completion of construction of a new 180MW CHP unit have been carried out by international consultants. The Audit showed that TETS-5 is generally in compliance with relevant Russian environmental, health and safety (EHS) regulations and also identified some areas where the EHS performance of TETS-5 could be improved. The Environmental Analysis concluded that the completion of the new CHP unit would result in significant environmental improvements, including reduction of air emissions and improvement of their dispersion as well as reduction of wastewater and storm water discharges. Based on the findings of the investigations, an Environmental Action Plan (EAP) has been developed to address deficiencies in the current environmental performance of TETS-5 and to mitigate the environmental impacts of the completion of the new CHP unit. The EAP includes measures for improving waste and hazardous material management, fuels and oils storage and handling practices as well as water and wastewater management and for mitigating risk of soil and groundwater contamination. The implementation of the EAP will ensure that TETS-5 will comply with relevant Russian EHS regulations and EU environmental standards.
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