"RAO" reached an agreement with the Ecuadorian authorities to build another five hydroelectric total capacity of 700 MW. The Company expects that loan funds for the project will provide Russian banks under state guarantees. Such a scheme has been used in the previous contract "RAO" in Ecuador, where the government progarantirovalo credit of $ 180 million investment now could exceed $ 1.5 billion
State "Inter RAO UES" may get a second major contract to supply power equipment to Ecuador. Yesterday the company announced that it has signed an agreement with the government of intent to expand the project to build a cascade of five hydropower plants on the river Guaylyabamba. Estimated cost of construction of power plants with total capacity of up to 700 MW of about $ 1.5 billion
This is the second project, the resulting "RAO" in Ecuador. At the end of 2010, the Company reached an agreement with an Ecuadorian company Hidrotoapi of work on construction of HPP "Toachi-Pilaton" power of 252 MW. The Russian side was to supply and install power and hydromechanical equipment for power plants. The contract price originally estimated at $ 100 million, funds have been received Hidrotoapi as export credit Roseximbank. Agreement on the credit line with a pool of banks - Roseximbank, VEB, GPB, Russian Commercial Bank (Cyprus) - up to 11 years was signed in April this year, its amount increased to $ 123.3 million then the size and term of credit has grown a possible : signed in July, the government resolution was given government guarantees the loan for $ 180 million until 2023.
But during the construction stage at Guaylyabambe "RAO" will work on another circuit. The company not only supply and install equipment, but also will build a hydroelectric dam. However, it intends, as before, the "maximum use of existing mechanisms of the state guarantee support for exports." Partner "RAO" was the State CELEC. Which of the Russian banks will extend credit, the company did not say. Technical and commercial proposal and a list of potential suppliers "RAO" Ecuadorian partners offer until the end of this year.
But the volume of Ecuador's orders can still grow. In Quito, has offered "RAO" an order for three hydropower cascade on Guaylyabambe - "Tortuga" (180 MW), the "Tigre" (160 MW) and "Lyurimaguas" (140 MW) - a total of $ 1 billion, but then the solution construction of the last station has been delayed. Instead, the Russian company took three hydropower smaller - "Manduriaku", "Chontal" and "Chirapi." But in 2012, Ecuador and may decide to build "Lyurimaguas."
Supply and installation of equipment were for "RAO" non-core business, said Catherine Tripoten of BCS, but now the company is positioning itself as a diversified holding company, which deals including engineering. For the "RAO" this pilot project, she adds, but it would be understandable if the company had built for their money HPS, owned stations and sell electricity. Dmitry Terekhov of IR "Grandis Capital" believes that the cost of the construction stage, which is about $ 2 thousand per 1 kW of installed capacity is adequate and appropriate market range. But, said the analyst, the cost of hydroelectric power station (especially in the mountains) is highly dependent on the specific design solutions, construction of dams and equipment, transport access construction sites.
State "Inter RAO UES" may get a second major contract to supply power equipment to Ecuador. Yesterday the company announced that it has signed an agreement with the government of intent to expand the project to build a cascade of five hydropower plants on the river Guaylyabamba. Estimated cost of construction of power plants with total capacity of up to 700 MW of about $ 1.5 billion
This is the second project, the resulting "RAO" in Ecuador. At the end of 2010, the Company reached an agreement with an Ecuadorian company Hidrotoapi of work on construction of HPP "Toachi-Pilaton" power of 252 MW. The Russian side was to supply and install power and hydromechanical equipment for power plants. The contract price originally estimated at $ 100 million, funds have been received Hidrotoapi as export credit Roseximbank. Agreement on the credit line with a pool of banks - Roseximbank, VEB, GPB, Russian Commercial Bank (Cyprus) - up to 11 years was signed in April this year, its amount increased to $ 123.3 million then the size and term of credit has grown a possible : signed in July, the government resolution was given government guarantees the loan for $ 180 million until 2023.
But during the construction stage at Guaylyabambe "RAO" will work on another circuit. The company not only supply and install equipment, but also will build a hydroelectric dam. However, it intends, as before, the "maximum use of existing mechanisms of the state guarantee support for exports." Partner "RAO" was the State CELEC. Which of the Russian banks will extend credit, the company did not say. Technical and commercial proposal and a list of potential suppliers "RAO" Ecuadorian partners offer until the end of this year.
But the volume of Ecuador's orders can still grow. In Quito, has offered "RAO" an order for three hydropower cascade on Guaylyabambe - "Tortuga" (180 MW), the "Tigre" (160 MW) and "Lyurimaguas" (140 MW) - a total of $ 1 billion, but then the solution construction of the last station has been delayed. Instead, the Russian company took three hydropower smaller - "Manduriaku", "Chontal" and "Chirapi." But in 2012, Ecuador and may decide to build "Lyurimaguas."
Supply and installation of equipment were for "RAO" non-core business, said Catherine Tripoten of BCS, but now the company is positioning itself as a diversified holding company, which deals including engineering. For the "RAO" this pilot project, she adds, but it would be understandable if the company had built for their money HPS, owned stations and sell electricity. Dmitry Terekhov of IR "Grandis Capital" believes that the cost of the construction stage, which is about $ 2 thousand per 1 kW of installed capacity is adequate and appropriate market range. But, said the analyst, the cost of hydroelectric power station (especially in the mountains) is highly dependent on the specific design solutions, construction of dams and equipment, transport access construction sites.
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