A second combined-cycle gas turbine (CCGT) at the Shimal power plant near Baku in Azerbaijan is scheduled to come online in May 2018.
The 409 MW unit, which is being built by Japan’s Toyo Engineering Corp., is being financed by a ¥29.280 billion ($275 million) loan from the Japan Bank for International Cooperation (JBIC). It was issued to Azerbaijan for 40 years with a 10-year grace period at an annual rate of 0.75%.
The project’s total cost is estimated to be at least $330 million. The...
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