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China Eximbank provides $15.5 million export seller's credit for 12MW Kirirom I Hydropower Plant Rehabilitation Project (Linked to Record ID#32202)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | China Electric Power Technology Import and Export Corporation (CETIC) |
| Country | Cambodia |
| Start Date | Dec 09, 2000 |
| End Date | Feb 10, 2030 |
| Duration | 10,655 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 32080 |
Grant Description
China Eximbank provides $15.5 million export seller's credit for 12MW Kirirom I Hydropower Plant Rehabilitation Project On December 9, 2000, China Eximbank provided a $15.5 million export seller's credit to China Electric Power Technology Import & Export Corporation (CETIC) for the 12MW Kirirom I Hydropower Plant Rehabilitation Project.
The credit was disbursed in an RMB 91.5 million tranche and a $4.5 million tranche.
The purpose of this $19.24 million project was to rehabilitate the Kirirom I Hydropower Plant, which is located in the Kirirom National Park of Koh Kong Province. The Kirirom I Hydropower Plant is linked to Phnom Penh by a 120 km long, 115kV transmission line. It supplies electricity to Kampong Speu Province and Phnom Penh.
The Kirirom I Hydropower Plant was originally built in 1968 with support from Yugoslavia. In 1975, under the Khmer Rouge regime, the power plant fell into disrepair and electricity production stopped.
In 1999, China Electric Power Technology Import & Export Corporation (CETIC) — a Chinese state-owned enterprise — was contracted to re-build the power plant at a cost of $24 million under a 30-year build-operate-transfer (BOT) agreement. CETIC then signed a power purchase agreement (PPA) with Electricité du Cambodge (EDC) on July 28, 2000.
The rehabilitation project commenced on April 2, 2001. This project was completed and plant put into operation on May 29, 2002.
The total installed capacity of the rehabilitated plant was 12,000 kilowatts, and its average annual power generation is 53 million kilowatt-hours. The plant generated about 46.5GWh, 43.3GWh and 44.4GWh in 2007, 2008 and 2009, respectively.
Under the terms of the BOT agreement, CETIC agreed to operate the plant for 30-years before handing it over to the Government Cambodia.
Staff Comments
- The Chinese project title is 基里隆I号水电站.
- Under the terms of the BOT agreement, the Government of Cambodia granted CETIC the exclusive rights to (a) develop, design, finance, rehabilitate, construct, own, operate, maintain, and manage the existing and newly constructed facilities of the Kirirom 1 hydropower plant with a capacity of 12 MW; (b) develop, design, finance, and construct transmission facilities and then transfer the plant to EDC after completion of commission; and (c) sell to EDC all generated electricity from Kirirom under a 30-year PPA.
- CETIC was also involved in a subsequent, China Eximbank-financed expansion of the same power plant (see Project ID#32202).
Sources & References
- Cambodia gets more Chinese investment
- LOAN GIVEN TO BUILD HYDROPOWER DAM ABROAD.
- Refurbished Cambodian hydropower station reopens for business.
- Phnom Penh 30 May AKP - The completion of Kirirom hydroelectricity station.
- Kirirom 1 Hydropower Station Rehabilitation Inaugurated in Cambodia
- Cambodia gets its first hydro-electric power plant in 34 years, http://ppi.worldbank.org/explore/PPIReport.aspx?ProjectID=4571
- Renovation of Kirirom Hydropower Station in Cambodia Started.
- CAMBODIA: A Decade after the Coup
- Renovation of Kirirom Hydropower Station in Cambodia Started.
- World Bank PPL
- Eximbank Supports Cambodia Power Plant
- Loan Given to Cambodia to Build Hydropower Dam
- 柬埔寨国家电力电网建设现状分析
- World Bank PPI.xls
- China funds Kirirom I
- CAMBODIA Energy Sector Assessment
- Strategy, and Road Map
- Kirirom 1 Hydropower Dam
- GeoHack - Kirirom 1 Hydropower Dam
- Cambodia Power Sector: Technical Assistance for Capacity Building of the Electricity Authority of Cambodia
- 基里隆水电站
- 公司重返柬埔寨市场，老挝分公司区域化管理迈出重要一步 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
China Electric Power Technology Import and Export Corporation (CETIC)
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