Business news from Ukraine

“Ukrhydroenergo” paid almost UAH 8 bln in taxes to state budget in 11 months

In 11 months of 2023, Ukrhydroenergo paid UAH 7.9 billion in taxes, duties and other mandatory payments to the state budget, including UAH 2.2 billion in dividends.

According to the company’s press release on Tuesday, in addition to taxes, direct assistance to the Armed Forces amounted to more than UAH 200 million during the year.

“In the context of confronting the aggressor, one of the main tasks of all enterprises, regardless of ownership, is to pay taxes in full and on time. This is primarily additional funds for the resilience of the Armed Forces, social support for Ukrainians affected by the Russian armed aggression and the restoration of our country,” Ukrhydroenergo emphasized.

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Ukrhydroenergo and Canadian AECON sign Memorandum of Cooperation in Canada

Ukrhydroenergo and Canadian company AECON Construction Global Services Incorporated (AECON) have signed a Memorandum of Understanding in Ottawa, Canada, on cooperation in the construction of hydroelectric power plants in Ukraine.

According to the press service of the President of Ukraine, the Memorandum was signed by Ihor Syrota, CEO of Ukrhydroenergo, and John M. Beck, founder and chairman of AECON Group Incorporated.

The signing took place in the presence of President of Ukraine Volodymyr Zelenskyy and Prime Minister of Canada Justin Trudeau.

The document provides for the study of the possible participation of the Canadian AECON in the construction of the Kanivska PSP and Kakhovska HPP.

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By the morning of June 7, the peak of water spill from the Kakhovka reservoir is expected – “Ukrhydroenergo”

The peak of water spill from the Kakhovka reservoir is expected by the morning of June 7, reported PJSC “Ukrhydroenergo” with reference to the general director of the company Igor Sirota on Tuesday.

“Further, there will be a stabilization of the water level. In 4-5 days the water will begin to recede,” said the head of Ukrhydroenergo.

On Tuesday morning, the Ukrhydrometeocenter warned that on the Dnieper River below the town of Novaya Kakhovka, as a result of the explosion of the Kakhovka hydropower plant, intense rise in water levels with flooding of riverbed areas and lowered parts in Kherson, in Kherson, Berislavsk, Skadovsky districts of Kherson region is expected. III level of danger – red.

As reported, at 02:50 on June 6, Russian troops carried out an internal explosion of structures at the occupied Kakhovska HPP, which led to the flooding of a number of settlements in the Kherson region. As of 11:00 a.m., 16 gates of the plant, the HPP building and the earth dam insert between the HPP building and the sluice and admin building were destroyed.

At the same time, the explosion of the HPP did not directly affect the situation in the Ukrainian energy system. There are no threats to the stability of power supply. The generated electricity is sufficient to cover the needs of consumers.

The destruction of the hydropower plant is considered a violation of the Geneva Convention.

Source: Interfax-Ukraine

“Ukrhydroenergo” restored 500 MW of lost 2,000 MW of capacity

Ukrhydroenergo PJSC has already restored 500 MW and is set to resume another 1,500 MW of capacity lost due to Russian attacks in the second phase, the company said in its Telegram channel, citing Natalia Nikolska, a member of the company’s supervisory board (SB), on Friday evening.
“We are now looking for new partners for out-of-the-box solutions for restored critical infrastructure with additional security,” Nikolskaya said during the Ukrainian Energy Transition Forum, according to the report.
According to her, the restoration of capacities will be carried out with maximum protection of equipment, and for further development of hydropower, new solutions will be introduced to restore lost capacity and increase the company’s share in the United Energy System (UES) of Ukraine.
“It should be emphasized that despite the war, Ukrhydroenergo has remained profitable and intends to continue development and rehabilitation projects,” stressed the NA member.
“Ukrhydroenergo estimates its direct losses from the beginning of the war, including the occupation of Kakhovska HPP, at $1 billion.
The company’s hydro and hydroelectric plants are actively involved in the balancing market, namely in adjusting the daily schedule of loads to cover peaks and troughs and in frequency/capacity regulation. In addition, hydropower plants compensated for the lack of generating capacity in the Ukrainian energy system when nuclear and thermal power units were unloaded as a result of Russian missile strikes.
“Ukrhydroenergo operates all major hydroelectric power plants located on the Ukrainian sections of the Dnieper and Dniester rivers. The total installed electric capacity of the general company’s hydroelectric power plants is 6,208.3 MW.


A memorandum of cooperation in the development and implementation of projects for production of green hydrogen in Ukraine was signed by PrJSC Ukrhydroenergo with the German companies Andritz Hydro and MAN Energy Solutions, Andriy Lets, head of the project technical support department at Ukrhydroenergo, said.
“A memorandum was signed with Andritz Hydro and MAN Energy Solutions on cooperation in the development and implementation of projects for production of green hydrogen in Ukraine. Today, in a war, this topic is extremely important not only for Ukraine, but for entire Europe,” he said during an Energy Club online discussion “Hydrogen production in Ukraine. Resource base” on Thursday.
Lets expressed his conviction that the signing of the memorandum would launch global processes that would help create a so-called hydrogen hub in our state in the future, with the advent of which Ukraine can achieve real energy independence.
At the same time, it is specified that Ukrhydroenergo, together with Andritz Hydro and MAN Energy Solutions, are considering and carrying out fruitful work on a pilot project for launching a 1 MW electrolysis plant for production of green hydrogen.
“There are many issues in terms of legislation, technical capabilities that are being worked out today,” the representative of the Ukrainian hydro-generating company explained the situation.
According to him, according to the pilot project, we are talking about production of 100 kg of hydrogen per day. At the same time, Lets noted that Ukrhydroenergo has the potential to produce green hydrogen with the use of renewable sources through water electrolysis.
“This is a promising type of energy, which is also important for decarbonization of the economy and Ukraine’s entry into new markets,” he summed up.

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The World Bank’s Board of Executive Directors on June 30 approved a $212 million financing package for private joint-stock company Ukrhydroenergo for installation of hybrid systems for electricity production.
“The project will enhance the flexibility of the Ukrainian power system to help synchronize it with the European electricity grid and decarbonize the power sector,” the World Bank said.
The $212 million financing package includes a $177 million International Bank of Reconstruction and Development (IBRD) loan, a $34 million Clean Technology Fund (CTF) concessional loan, and a $1 million CTF grant for a new project in Ukraine.
“The World Bank’s financing will help mitigate technical risks associated with synchronizing Ukraine’s power grid with the European electricity grid and will help decarbonize it by facilitating greater integration of renewable energy,” the World Bank said.