A EUR100 million grant agreement has been signed by Volodymyr Kudrytskyi, Chairman of the Board of NPC Ukrenergo, and Lorenz Gessner, Head of the Representative Office of the German state development bank KfW in Ukraine, the company said.
According to its Telegram post on Friday, the signing took place in Kyiv on Thursday in the presence of Deputy Energy Minister Roman Andarak and members of the EU Delegation to Ukraine.
It is noted that the European Commission has authorized KfW to provide Ukrenergo with funds from the EU’s special budget program Ukraine Investment Facility and to ensure the financing and implementation of a number of priority energy projects.
These include the modernization of high-voltage substations in the western regions of Ukraine and the development of interconnectors connecting it to the power system of continental Europe, as well as the repair and restoration of equipment destroyed or damaged by Russian shelling at high-voltage substations, and the purchase and supply of new equipment.
In addition, part of the funds should be used to strengthen the physical protection of Ukrenergo’s substations.
NPC noted that this grant is the second phase of the target program “Reconstruction and Restoration of Ukraine’s Electricity Transmission Infrastructure”, as the company signed an agreement with KfW on the first phase of the program worth EUR 15 million at the Berlin Conference on the Restoration of Ukraine-2024 in June.
In total, since the beginning of the full-scale war, Ukrenergo has attracted EUR324 million with the support of KfW, and the total amount of international assistance attracted amounted to EUR1.5 billion, the NPC summarized.
