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China Eximbank provides $60 million preferential buyer’s credit for 20MW Jesus Rabi Biomass Power Plant Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Cuba |
| Country | Cuba |
| Start Date | May 01, 2015 |
| End Date | Oct 13, 2031 |
| Duration | 6,009 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 54766 |
Grant Description
China Eximbank provides $60 million preferential buyer’s credit for 20MW Jesus Rabi Biomass Power Plant Project In May 2015, China Eximbank and the Government of Cuba signed a preferential buyer’s credit (PBC) agreement worth $60 million for the 20MW Jesus Rabi Biomass Power Plant Project.
The purpose of the project was to construct the 20 MW Jesus Rabi biomass power plant in the Matanzas province, north of the Jesus Rabi sugar plant.
The plant was expected to supply power to the daily production at the sugar plant, supply heat to the del Bardo brewery, and will sell the remaining power to national power alliances.
The project was initially discussed in June 2013, and construction was expected to begin by the end of that year; however, there appeared to be some difficulty in acquiring the promised $60 million from China Eximbank until 2015.
Shandong Electric Power Engineering Consulting Institute Corp., Ltd. (SDEPCI) was the contractor responsible for project implementation. It signed an EPC contract with AZCUBA (Cuba's state-run sugar monopoly). The project entered implementation in March 2018. As of July 7, 2020, the construction of the 20MW Jesus Rabi Biomass Power Plant Project was still ongoing.
The plant is expected to be commissioned in 2025.
Staff Comments
- The Chinese project title is 古巴郝苏斯拉比20MW生物质发电项目.
- The Spanish project title is Proyecto planta eléctrica de biomasa Jesús Rabí.
- The name of the plant in Chinese is 古巴郝苏斯拉比生物质电厂项目.
Sources & References
- China-Latin America Finance Database
- 全球风险与投资的不确定性：2018 年中国海外能源融资
- Bioeléctrica de Central Jesús Rabí generará 20 megawatts
- Cuba Jesus Rabi 20MW Bagasse Power Project
- Tratados ratificados por Cuba
- Tratados ratificados por Cuba
- Kuba: Erneuerbare Energien und Energieeffizienz in der Lebensmittel - und Tourismusindustrie
- 中国进出口银行绿色金融白皮书
- Cuba construirá planta bioeléctrica con tecnología china
- Cuba Launches First Biomass Power Plant
- China's Overseas Development Finance
- China's Global Energy Finance - Cuba
- Cuba's First Biomass-Fired Power Plant Inaugurated
- Power plant profile: Jesus Rabi Sugar Mill Bioelectrical Plant
- Cuba 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
Government of Cuba
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