PavlodarEnergo’s upgrade of the CHP-3 coal fired combined heat and power plant, of which the Bank would finance the purchase and installation of the turbo generator #1, the most expensive component of the rehabilitation programme, to improve efficiency and help addressing the growing demand in the Pavlodar region in North East Kazakhstan.
The project will achieve significant demonstration impact in supporting private sector company with a strong management to implement an important efficiency improvement project which supports the Sustainable Energy Action Plan jointly developed between the EBRD and the Government of Kazakhstan.
The Project will seek to further improve the Borrower’s financial transparency and quality of financial information through IFRS statements going forward and quality standard improvement through ISO 14001 by end 2007.
In parallel, as part of implementation of the Sustainable Energy Action Plan, the Bank will continue to work directly with the Anti-Monopoly Agency and the Ministry of Energy and Natural Resources to further improve tariff methodologies applicable to regulated heat and electricity activities, and strengthen the regulatory body in line with international practice, through inter alia, the implementation of consultants’ recommendations provided to date under the Technical Cooperation.
Pavlodar Energo Joint Stock Company consists of a utility group comprising power and heat generation with 550 MW total installed capacity,and distribution network located in Pavlodar in North East Kazakhstan.
Senior secured long term loan: USD 30. million.
Approximately USD 64.1 million.
The project was screened as B/1. The operation of a coal (lignite) fired combined heat and power plants is associated with a potential environmental issues ranging from air emissions (namely, dust, sulphur dioxide) to cooling/wastewater impacts as well as nuisance such as noise etc. An independent environmental consultant completed environmental and social due diligence of the project Company, which consisted of an Environmental Audit covering all assets and operations and an Environmental Analysis of the proposed investment programme. An Environmental and Social Action Plan (ESAP) was developed and is being discussed with the Company. he investment project is structured to meet EU Standards, and the associated ESAP will significantly improve the company’s environmental management and overall performance. However, not all of the company’s old facilities will at this stage be capable of meeting EU standards; this will require further investment which the Bank will monitor as part of the ESAP implementation.
Kazakhstan, Pavlodar, 27 Krivenko St.
Tel: +7 3182 321797
Fax: +7 3182 324175
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