The European Bank for Reconstruction and Development (EBRD) could provide EUR 149 million to national energy company Ukrenergo for the project to modernize power transmission networks, the bank has said on its website.
The project has passed final review, pending board approval.
The loan will finance procurement of up to 26 new transformers and the automation and upgrade of 12 high voltage substations in key locations of the transmission network of Ukraine. The total project cost is EUR 198.2 million, including EUR 49.2 million of own funds of Ukrenergo.
The project will enable Ukrenergo to upgrade its key transmission infrastructure, required for synchronization with the European Network of Transmission System Operators for Electricity (ENTSO-E).
In addition, the modernization will result in substantial energy savings and associated CO2 emission reduction.
