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China Development Bank provides $189 million buyer’s credit loan for 40MW Vitebsk Hydroelectric Power Plant Construction Project
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Belarus |
| Country | Belarus |
| Start Date | Dec 27, 2010 |
| End Date | Aug 29, 2028 |
| Duration | 6,455 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 42355 |
Grant Description
China Development Bank provides $189 million buyer’s credit loan for 40MW Vitebsk Hydroelectric Power Plant Construction Project On December 27, 2010, China Development Bank and the Government of Belarus signed a $189 million buyer’s credit loan agreement for the 40MW Vitebsk Hydroelectric Power Plant Construction Project.
Its interest rate is unknown. The Government of Belarus issued a sovereign guarantee in support of the loan. BPS-Bank served as the agent bank for loan servicing.
The Government of Belarus on-lent the proceeds of the loan to a state-owned company called RUE Vitebskenergo and a state-owned company called Belenergo.
RUE Vitebskenergo then used the proceeds of the loan to finance a $230 million commercial contract that it signed with China National Electric Engineering Co (CNEEC) on December 27, 2010.
The purpose of this project was to construct a 40MW hydroelectric power plant (with four 10MW power generation units) in the city of Vitebsk near the Western Dvina River and within the Vitebskaya (Vitebsk) Oblast. Upon completion, it was expected that this plant would meet one-third of the electricity needs of the Vitebsk Oblast.
Beijing Engineering Corporation Limited was the contractor responsible for the design of the power plant. CNEEC was the general (EPC) contractor responsible for implementation. CNEEC appears to have hired China Power Engineering as a subcontractor. Construction began on April 11, 2012. River closured occurred on May 15, 2014.
Then, on March 1, 2016, the installation of hydraulic power equipment began.
The power plant began generating electricity on a trial basis (with one of the 10MW power generation units) on December 1, 2016. Then, on December 21, 2016, all four 10MW power generation units were connected to the grid. The power plant was ultimately put into operation on July 31, 2017.
Staff Comments
- The Russian project title is Строительство Витебской ГЭС or Віцебская ГЭС or Vitebskaya Gidroelektrostantsiya or «Строительство Витебской ГЭС на реке Западная Двина». РУП «Витебскэнерго». The Chinese project title is 白俄罗斯维捷布斯克水电站项目.
- In the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020, it identifies the CDB loan commitment year as 2011. However, AidData identifies the loan commitment year as 2010 because the loan agreement was signed on December 27, 2010.
- The loan that supported this project may have been drawn from a $15 billion credit line that was agreed to in 2010 (see Project ID#42295). This issue merits further investigation.
Sources & References
- China may allocate nearly $1 bln to build soda ash plant and HPP in Belarus
- CNEEC to construct US$230 million 40-MW Vitebsk hydroelectric project in Belarus
- Chinese company to help build Vitebsk hydropower plant by 2019
- 白俄罗斯总理：希进一步加强白与中国机械工业集团有限公司的合作, Об утверждении перечня финансируемых за счет внешних государственных займов и внешних займов, привлеченных под гарантии Правительства Республики Беларусь, инвестиционных проектов и предназначенных для реализации таких проектов технологического оборудования и запасных частей к нему, которые при ввозе на территорию Республики Беларусь освобождаются от таможенных пошлин и налога на добавленную стоимость
- 中国企业承建的白俄罗斯联合循环发电项目正式开工
- Belarus to issue loan guarantee to China under Vitebsk hydroelectric plant project
- Vitebsk Hydroelectric Power Plant to join One Belt One Road initiative, Витебская ГЭС, Витебская ГЭС начала вырабатывать электроэнергию Читать полностью: https://news.tut.by/economics/523623.html?c, Китайцы объявили великую битву Двине, КРЕДИТНОЕ СОГЛАШЕНИЕ О ФИНАНСИРОВАНИИ СТРОИТЕЛЬСТВА ВИТЕБСКОЙ ГЭС ПЛАНИРУЕТСЯ ПОДПИСАТЬ В СЕНТЯБРЕ, КИТАЙ ВЫДЕЛИТ $189 МЛН. ПОД СТРОИТЕЛЬСТВО ВИТЕБСКОЙ ГЭС, Беларусь выдаст гарантию Государственному банку развития Китая по кредиту на Витебскую ГЭС, О введении в эксплуатацию Витебской ГЭС, «У нас с Китаем — общая граница». Как Беларусбанк инвестирует китайские деньги - infobank.by, Китайцы получат правительственную гарантию по кредиту на строительство Витебской ГЭС
- Vitebsk 4x10MW Hydropower Plant in Belarus
- Signing of EPC Contract of Vitebsk Hydropower Plant
- Belarus
- Vitebsk Hydropower Station Project in Belarus has been Successfully Completed
- The First Generating Set of Hydropower Station in Vitebsk of Belarus Succeeded in Being Combined to the Grid
- All the Four Generating Units at Vitebsk Hydropower Station in Belarus Are Combined to the Grid
- 喜报：白俄维捷布斯克水电站正式竣工移交
- 白俄维捷布斯克水电站项目圆满竣工
- Historical background of the Vitebsk Power System development
- Belarus to issue loan guarantee to China under Vitebsk hydroelectric plant project, Кредитное соглашение о финансировании строительства Витебской ГЭС планируется подписать в сентябре, Постановление Совета Министров Республики Беларусь от 20.12.2011 № 1700 'О выдаче гарантии Правительства Республики Беларусь Государственному банку развития Китая', ПОСТАНОВЛЕНИЕ СОВЕТА МИНИСТРОВ РЕСПУБЛИКИ БЕЛАРУСЬ 4 мая 2009 г. No 572
- China's Overseas Development Finance
- Technology transfer in the hydropower industry: An analysis of Chinese dam developers’ undertakings in Europe and Latin America 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.
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Government of Belarus
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