OREANDA-NEWS. March 31, 2010. Enel OGK-5 has signed a long-term financing agreement with the European Investment Bank (EIB) for the amount of 250 million Euros aimed at financing the construction of the 410-MW CCGT unit at Nevinnomysskaya GRES as well as other rehabilitation works for the power plant modernisation.

The loan will be disbursed by tranches, with the repayment period of 15 years for each tranche.

The CCGT unit at Nevinnomysskaya GRES is scheduled to be commissioned at the end of 2010. The total investment of Enel for this project amounts to around 400 million Euros. The new CCGT unit will use the world’s leading combined cycle technologies, which will significantly improve the power plant’s fuel efficiency and reduce its emissions.