MOSCOW, July 24 (RIA Novosti) - Russian state-owned generating company HydroWGC has approved a $233 mln credit agreement with the European Bank for Reconstruction and Development, the company said Monday.
The deal was also approved by the EBRD loan committee, and is expected to receive final approval in late July.
A part of the loan is designed to finance a 14-year modernization program at the Volga-Kama electric power station, at a cost of 10.9 bln rubles ($403 mln).
The loan interest rate will not exceed MOSPRIME +3.65%.
Federal Hydrogeneration Company HydroWGC is a 100% subsidiary of Russian electricity monopoly Unified Energy Systems. Established on September 1, 2003, the company controls hydropower stations with a total capacity of 22,650 MW.
