Kurgan CHPP-2

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In April 2008, the Czech Export Bank and the Kurgan Thermal Power Plant, a subsidiary of the privately-owned developer Intertechelektro New Generation, signed a mandatory agreement to finance the construction of the combined heat and power plant Kurgan-2, a 222-MW gas-fired power plant in Kurgan city in the southern Urals. The Kurgan CHPP-2 power plant would comprise two 76-MW gas turbines supplied by GE Energy, two 35-MW steam turbines supplied by Siemens PG as well as two waste heat boilers, with turnkey construction to be undertaken by PSG International of the Czech Republic. The new plant would supply power to consumers in Kurgan. The city of Kurgan was badly short of generating facilities and so needed a second thermal power plant. The total project cost was RUR13.29 billion (US$534.81 million). Financial close was achieved in April 2008. Czech Export Bank (CEB) provided an export credit to the Czech construction contractor PSG-International (PSG) covering 85% (EUR188 million) of the EUR220 million equipment supply contract for the Kurgan CHPP-2 plant. In September 2009, an agreement was signed whereby the Russian state was to provide a RUR1.329 billion investment subsidy to the project. Of this amount, the state-owned RF Investment Fund was to provide RUR991.6 million and the Kurgan regional government was to provide RUR336.9 million.