A geothermal power plant in the Kamchatka Peninsula is to start generating power during the first quarter of this year. The 50 MW facility was constructed with a ยค100 million loan from the European Bank for Reconstruction and Development. It is the first phase of the Mutnovskaya geothermal station which is being developed by Kamchatskenergo, the local utility. A second phase, with a capacity of 100 MW is due to be commissioned in 2004, leading eventually to a final capacity of 300 MW.