The Azerbaijani government plans to receive a loan of $180 million for the modernization of the Azerbaijan Thermal Power Plant, Report informs, citing a government source.
Azerenerji has prepared and submitted relevant proposals and a modernization program to the government.
The proposals were sent to three agencies. One of them has agreed, the second expressed dissatisfaction, and the third remained neutral. After that, the project was revised three times, and the latest version was approved.
Initially, it is planned to modernize the 6th and 7th units of the TPP. This requires $180 million. As part of the investment, it is designed to install steam turbines at the thermal power plant Azerbaijan. According to preliminary estimates, if this is implemented, Azerbaijan will be able to save 1.2 billion cubic meters of natural gas per year.
After the accident at the Azerbaijan thermal power plant in July 2018, President Ilham Aliyev allocated a total of 140 million manats ($82.35 million) to eliminate shortcomings at the power plant and improve infrastructure, as well as to carry out repair and restoration work at power plants and substations.
TPP Azerbaijan is a thermal power plant of 8 units with a capacity of 300 MW each in Mingachevir.