Last week, Energoatom signed a loan agreement for 181 million pounds with a consortium of international banks, including Deutsche Bank and Barclays Bank, the company said in a telegram on Tuesday.
The loan proceeds under the contract between Energoatom and Urenco will be used to finance the supply of nuclear materials – enriched and natural uranium hexafluoride.
The loan is for five years. The guarantee is provided by the UK government through the UK Export Finance (UKEF) export credit agency. No state guarantees are provided by Ukraine.
As reported, in November 2023, Energoatom and Urenco signed a contract for the supply of enriched uranium product for Ukrainian NPPs until 2035, with the possibility of its extension until 2043.
In addition, the parties have two contracts in place until 2025, under which NNEGC supplies the British company with nuclear materials.
At a meeting last Friday, the Cabinet of Ministers of Ukraine approved a five-member supervisory board of Energoatom, the Ministry of Economy reported.
In particular, Timothy John Stone, who has experience as an independent director of Horizon Nuclear Power, a non-executive director of the European Investment Bank, and heads the Nuclear Industry Association of Great Britain (NIA), became an independent member of the board.
The Board also includes Michael E. Kirst, who has held senior positions at Westinghouse Electric Company throughout his career. Prior to joining Westinghouse in 1996, Mr. Kirst was Director of the Economic Committee of the NATO Parliamentary Assembly in Brussels. He is the founder and managing director of EuroAtlantic Partners.
In addition, Jarek Neverovic, former Minister of Energy of Lithuania and Chief Advisor to the President of Lithuania on Environment and Infrastructure, became an independent member of the NNEGC. He also held various positions in the government of his country related to the operation of the electricity transmission system, management of investment funds and cooperation with national and multinational corporations.
The representatives of the state in the Supervisory Board of Energoatom are Tymofiy Mylovanov, former Minister of Economic Development, Trade and Agriculture of Ukraine, now President of the Kyiv School of Economics, and Vitaliy Petruk, State Secretary of the Ministry of Economy of Ukraine, who headed the State Agency of Ukraine on Exclusion Zone Management in 2015-19.
“We managed to attract world-class professionals as independent candidates. We expect that this Supervisory Board will strengthen the company’s energy capabilities and help attract much-needed investments in the nuclear industry,” said First Vice Prime Minister and Minister of Economy Yulia Svyrydenko.
As reported, the decision to establish Energoatom, a 100% state-owned company, was made by the Cabinet of Ministers on December 29, 2023.
In January 2024, the state registration of the company and its charter took place, and in February the company received a certificate of registration of the issue of shares for more than UAH 306 billion.
In early March, NNEGC Chairman Petro Kotin announced that more than 40 applications had been submitted for the competition to select independent members of the Supervisory Board of NNEGC Energoatom.
State enterprise NAEK Energoatom (Kiev) on June 11 announced a tender for compulsory motor third party liability insurance for owners of land vehicles (MTPL).
According to the Prozorro electronic public procurement system, the total expected cost is UAH -1.645 mln.
The deadline for submitting tender documents is June 19.
NNEGC Energoatom and Korean Hyundai Engineering and Construction Co., Ltd. (HDEC) have signed a memorandum of cooperation on the design, construction and commissioning of new nuclear power units in Ukraine.
The relevant agreements were signed in Kyiv on Monday by Energoatom’s acting Chairman of the Board Petro Kotin and Executive Vice President and Chief Operating Officer of Hyundai Engineering and Construction Yong Choi in the presence of Ukraine’s Energy Minister Herman Galushchenko and Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Ukraine Hyun Tae Kim.
At a briefing after the signing of the memorandum, the head of the Energy Ministry noted that this is the beginning of cooperation in the completion of new units and in general for the future, including joint work on new reactor models.
“But now we are talking about specific projects – those that we are currently implementing at the Khmelnytskyi NPP,” the minister added.
As Kotin noted at the briefing, South Korea has a very extensive nuclear industry and a great deal of expertise in it, so the issue of cooperation with Hyundai, which is a leader in this area, is very important for Energoatom.
He also noted that cooperation with this company has already begun, recalling that part of the equipment for KhNPP-5, for the purchase of which an agreement was signed with Westihghouse last year, was manufactured by Hyundai.
“Their support will be very important for us in the future, for the success of our nuclear projects. And we have a very big plan,” Kotin emphasized.
In its release following the meeting, the Ministry of Energy added that the document, in particular, provides for the assistance of Korean partners in the development of production facilities to localize equipment production in Ukraine.
Galushchenko also thanked the Republic of Korea for the assistance provided to the Ukrainian energy sector since the beginning of the full-scale war with Russia, in particular for 10 cargoes of humanitarian aid, including 20 backup power plants and mini-excavators.
At the same time, Hyun Tae Kim emphasized that the Korean side is outraged by the recent Russian attacks that have caused enormous damage to Ukraine’s energy infrastructure. According to him, the government of the Republic of Korea is working to help the Ukrainian energy sector, in particular Kharkiv. At the end of last year, 60 diesel generators were transferred to Ukraine, and another 200 are planned for this year. Korea will also increase support for the Ukrainian energy sector through international organizations.
Hyun Tae Kim noted that the signing of the memorandum between Energoatom and Hyundai will contribute to the development of Ukrainian-Korean cooperation in the nuclear industry, in particular, the exchange of experience in nuclear technologies.
The Ministry of Energy also added that the memorandum of cooperation between the companies was developed in accordance with the agreements set forth in the letter of intent signed during the World Nuclear Exhibition in Paris at the end of November 2023.
As reported, Ukraine has begun construction of KhNPP-5 infrastructure using the AR1000 technology of the American Westighouse. In addition, it is planned to build KhNPP-6 using this technology, as well as two units at the South Ukrainian NPP. In total, the parties agreed on 9 new units.
JSC Sumy Plant of Pumping and Power Engineering Nasosenergomash and JSC Research and Design Institute of Nuclear and Power Pumping are to be transferred to the management of NNEGC Energoatom.
As the Agency for Finding, Tracing and Management of Assets Derived from Corruption and Other Crimes (ARMA) reported on Facebook, a roadmap for the transfer of the seized assets to NNEGC is being developed following consultations with the Ministry of Economy and other authorities.
The transfer of property will take place in accordance with the procedure provided for in Article 21 of the ARMA Law (Peculiarities of Asset Management in Exceptional Cases).
As reported, Nasosenergomash shares were seized on June 2, 2022.
The owner and ultimate beneficiary of Nasosenergomash through the controlled H.M.S. Capital Limited is a citizen of the Russian Federation, Vladimir Lukyanenko, the founder and one of the shareholders of the Russian group Gidromashservice, which supplies equipment for various industries, including the military-industrial complex of the Russian Federation.
State enterprise “NAEK Energoatom” on April 16 reported that IC “Mega-Policy” was recognized as the winner of the tender for insurance of liability for high-risk facilities, for damage that may be caused as a result of emergencies.
As reported in the system of electronic public procurement Prozorro, the expected cost -139,515 thousand UAH, the company’s price offer of 79,520 thousand UAH.
IC “Industrial Insurance Company” also took part in the tender with the offer of UAH 41,7 thousand.
As it was informed, IC Mega-Policy was registered in 2000, specializing in risk insurance.
