EBRD Loans for Russian Hydropower

On 8 September 2006, the European Bank for Reconstruction and Development announced the long-term loan of EUR185 million to finance the modernisation of nine power stations on the Volga-Kama cascade, one of Russias largest sources of hydro power. As of 2006, hydro generation was the main source of renewable energy in Russia, accounting for 20% of all power produced.