KYIV. March 16 (Interfax-Ukraine) – Ukraine intends by December 1, 2106 to sign a credit agreement with the European Investment Bank (EIB) and World Bank to build the Kaniv hydroelectric pumped storage power plant.
According to the government’s action plan for 2016, the relevant legislative measures are to be approved by December 1.
Total cost of the project is assessed at EUR 1.283 billion. The capacity of Kaniv hydroelectric pumped storage power plant will be 1 GW in generating operations, its construction will take six and a half years, and the payback period is about ten and a half years.
Public joint-stock company Ukrhydroenergo seeks to borrow 70% of funds for the project from international banks – EIB, World Bank, the European Bank for Reconstruction and Development (EBRD) and Deutsche Bank.
