14:17 - 5.09.2019

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September 5, Fineko/abc.az. Azerbaijani President Ilham Aliyev on Thursday attended the  inauguration of the Shimal-2 power plant in Baku.

The construction of the second combined cycle gas turbine unit at Shimal Hydroelectric Power Station (Shimal-2) was carried out using a loan from the Japan Bank for International Cooperation (JBIC) in the amount of 29,280,000 Japanese yen (over $275 million). The loan was provided to Azerbaijan for 40 years with a 10-year grace period at an interest rate of 0.75%. The total project cost exceeds $330,000,000.

The project involves the construction of a combined-cycle plant with a capacity of 409 MW, construction of a 220 kV double-ring transmission line, extending to 107 km, as well as the reconstruction of transmission lines and substations. Construction is carried out by the Japanese company Toyo Engineering Corporation.

Shimal Hydroelectric Power Plans already has one operational 400 MW combined cycle power plant, built by Mitsui/Mitsubishi alliance on a JBIC loan.

According to Azerenerji, due to the joint operation of the Shimal and Shimal-2 combined-cycle plants, the total electricity generated by the power plant will reach 5.7 billion kWh per year.