SOFIA (Bulgaria), October 19 (SeeNews) – The European Investment Bank said its board has approved a 45 million euro ($53 million) loan to Sofia municipality to finance the construction of a new combined heat and power (CHP) plant for the Bulgarian capital’s district heating network.
The plant will combust refuse derived fuel (RDF) to be produced at the municipality's new waste management facility, feed its electricity into the public grid, and provide heat to the district heating system of Sofia operated by Toplofikacia, the lender said in a project description, posted on its website.
The total estimated cost of the construction of the plant is 135 million euro.
The project is likely to be co-financed under the Operational Programme Environment during 2014-2020 and it is on the JASPERS action plan to support the preparation of the grant application, the EIB said.
The new plant will partly replace heat generation in existing natural gas fired installations, according to the project description.
The construction of the plant is the final phase of the integrated Sofia Municipal Waste project.
($=0.8477 euro)