Project description
and objectives:
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The EBRD is considering arranging up to EUR 300 million in a syndicated loan for the rehabilitation and modernisation of units 3 and 6 of the Turceni power plant (CET) in Romania in order to:
1. Increase availability, efficiency and therewith the reliability of one of the most important power plants in Romania
2. Extend the units’ life time by at least 15 years,
3. Improve the environmental conditions for complying with the EU environmental directives
4. Implement a modern automation and control system, fulfilling the UCTE requirements.
The Project will be procured following EBRD’s Procurement Policies and Rules.
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Transition
impact:
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This project will be the first non-sovereign long-term loan to a thermal power plant in Romania. It will demonstrate Romania’s extensive progress in market liberalisation by operating as a ring-fenced, standalone commercial entity competing for market share mainly as a merchant plant.
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The client:
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CET is the largest thermal power plant in Romania, and second in the merit order, generating roughly 10% of the domestic electricity consumption, with a total installed capacity of 2,310 MW and two open cast lignite mines.
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EBRD
finance:
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EBRD is considering arranging up to EUR 300 million in a syndicated loan to commercial banks, using an A / B loan structure.
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Total project cost:
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Approximately EUR 500 million.
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Environmental impact:
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Screened B/1, requiring an environmental audit of the existing power plant and associated lignite mines and an environmental and social analysis of the proposed investment programme. Initial environmental and social investigations have confirmed that the Bank financed rehabilitation project is designed in line with best available techniques (BAT) philosophy and will significantly reduce emissions from the plant. The rehabilitation of units 3 & 6 will enable the plant to comply with the requirements of the EU Large Combustion Plant Directive (LCDP) as well as EU IPPC requirements. Although the plant and associated mines are in compliance with national legislation, the environmental and social due diligence has identified a number of additional investments and improvement to management practices that should be implemented by the Company to bring the power plant and associated lignite mines into line with applicable international practices. These additional improvement measures will be covered as part of an Environmental and Social Action Plan (ESAP) being developed on the basis of the environmental and social due diligence.
The PSD will be updated upon the completion of the environmental and social due diligence prior to presenting the project to Board for consideration.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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EBRD contact:
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Louis Borgo, Operation Leader: borgol@ebrd.com
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Procurement or tendering
opportunities:
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Visit EBRD Procurement
Enquiries: Tel: +44 20 7338 6794; Fax: +44 20 7338 7472, Email: procurement@ebrd.com
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General
enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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