First new power plant in 30 years in Russia’s Far East

A London based bank has announced a RUB 4 billion (£80.9 million) loan to build the first new power plant in Russia’s Far East border in the last 30 years. […]

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By Priyanka Shrestha

A London based bank has announced a RUB 4 billion (£80.9 million) loan to build the first new power plant in Russia’s Far East border in the last 30 years.

The Vice President of the European Bank for Reconstruction and Development (EBRD) said the 12-year loan will help Joint Stock Company ‘Energy System of East’ (ESV) achieve an “important regional priority” by switching its energy source from coal to gas.

The new plant would to be more energy efficient and emit less greenhouse gas emissions than coal-fired plant, cutting around 700,000 tonnes of emissions a year. The project is also expected to help Russia’s Far East energy sector by increasing its security and providing people with a reliable energy supply.