A security contract was signed between RusHydro and the European Bank for Reconstruction and Development for the Vostochnaya thermal power plant in Vladivostok, Russia.

RusHydro’s subsidiary RAO ES of the East will have 12 years to repay the loan amount of four billion roubles that the company took out for building the Vostochnaya gas thermal station. In addition, the loan will allow RAO ES of the East to refinance its outstanding debt.

According to the chair of RusHydro’s Management Board Mr. Evgeniy Dod, RusHydro is implementing a large-scale initiative to construct new power capacity in the Russian Far East. At the same time, the Vostochnaya station stands as one of the most ambitious projects of RusHydro.

According to Mr. Dod, the company has now achieved a new level of energy infrastructure development in Russian Far Eastern regions that will allow it to provide a reliable flow of energy to commercial and private customers.

The investment program of RAO ES of the East from 2012 to 2014 earmarks 10.2 billion roubles to the development of the Vostochnaya plant. The output capacity of electricity generating equipment at the Vostochnaya plant will be 139MW, while the plant’s thermal capacity will reach 420 Gcal/h.