Centerenergo attracts UAH 650 mln for modernization

Centrenergo (UX: CEEN UK), the electricity generating company with 7.6 GW installed capacity, opened a UAH 650 mln credit line with state Oshadbank to fund the modernization of its Trypilla TPP 2nd power unit, Interfax reported yesterday citing the Ministry of Economic Development. The loan servicing costs were estimated at UAH 290 mln. In December 2010 NERC provided CEEN with a UAH 520 mln investment premium on electricity tariff valid till September 2016. Total cost of the 2nd unit’s modernization is UAH 1.14 bln with the initial UAH 877 mln needed to upgrade an electricity filter and internal equipment. Unit’s useful life to expand by another 20 years; capacity to increase to 325 Mw; fuel efficiency to improve by 60g to 345g per KWh.