OREANDA-NEWS. On 05 March 2009 was announced, that JSC OGK-5 has signed a 12-year loan agreement with the European Bank for Reconstruction and Development (EBRD) for the amount of 120 million euros.

The agreement, signed against the background of the current difficult business environment, will support the investment program of the Company and the commitments undertaken towards the Russian Authorities regarding new capacity construction.

The loan will be used to finance the construction of the new 410 MW combined-cycle power unit at Nevinnomysskaya GRES.

The new CCGT-410 MW power unit is scheduled to enter service in 2010. The total investment is expected to amount to around 400 million euros.

The installation of the new combined-cycle unit will allow to reduce emissions and improve fuel consumption.

Currently the following works are being performed at the construction site: preparation of the bases for concreting of the foundations for the main equipment and the structure of the main building, reconstruction of open switchyard 330 kV.