TEHRAN, Feb. 22 (Mehr News Agency) -- A German bank is going to offer 152 million euros worth of financing for Siah-Bisheh dam and power plant project in Mazandaran Province, project commissioner of the plant Tarztalab told the Persian service of ISNA on Wednesday.
"Upon materialization of the loan, primarily at 76 million euros for equipment acquisition and construction of plant structure, 40% of total projected investment would be taken care of, and initial capital return may start flowing back as soon as 2006-2007 to be fully realized by 2013," he said, adding that half of 2,000 billion rials domestic financing has so far been afforded.
The unique reservoir dam, first of the kind in Iran, pumps water up from the lower dam to the upper one usually at night or when base load consumption is minimum by using up 960 megawatts of the grid. In return, while only at 25% physical progress, it could connect to the electricity network during peak hours to offer load and frequency stability, thus depreciation coefficient is reduced in other energy plants by 19 million dollars.
The Siah-Bisheh is constituted of four 260-MW power stations and would be operational by 2008-2009.
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