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29 December 2011

Turkish, Chinese companies show interest in building hydropower plants in Belarus

VITEBSK, 29 December (BelTA) – Foreign investors have shown an interest in building hydropower plants in Belarus, BelTA learned from Belarusian Deputy Energy Minister Mikhail Mikhadyuk. Along with building energy installations using its own funds, money of the innovation fund and credit resources the Energy Ministry attracts foreign direct investments despite the fact that those are expensive projects. According to Mikhail Mikhadyuk, negotiations are underway with Turkish and Chinese companies to build hydropower plants on the Western Dvina River, the Neman and the Dnepr. “Foreign investors have shown an interest in three installations: the Beshenkovichi and Verkhnedvinsk power plants on the Western Dvina River and the Nemnovo power plant,” specified the official. BelTA reported earlier that an agreement had been reached on the participation of Chinese investors in the construction of the Vitebsk power plant, which capacity will be 40MW. It will be commissioned on the Western Dvina River in 2015. It will allow substituting 42,000 tonnes of oil equivalent per annum. The China Development Bank has allocated $189 million to finance the project. A turn-key contract has been signed with the China National Electric Engineering Company (CNEEC).

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