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EBRD grants loan to Ukraine to upgrade HPP

2011-11-22 00:00:00

The EBRD is extending a € 200 M, 15-year sovereign loan to Ukrgidroenergo (UHE), Ukraine’s state-owned operator of large hydro generating and pump storage facilities.

The funds will cover the modernisation of 28 power units at 6 HPPs on the Dnieper River, thereby extending their lifetime by 30 years. Hydraulic turbines, generators, and dam safety and auxiliary equipment will be supplied and installed at the Kremenchug, Dnieprodzerzinsk, Dnieprovska and Kaniv HPPs, as well as at the Kiev pump storage plant. The new equipment is expected to improve reliability and operating costs of HPPs, optimise the use of water resources and improve the safety of the power plants and dams.

The EBRD loan is part of a larger project which envisages similar-sized parallel financing from the European Investment Bank. Ukraine has great potential to develop sustainable and renewable energy projects and this transaction should be a significant contribution to the Bank’s efforts to make the country more energy efficient.

Source: http://www.ebrd.com

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