The European Bank for Reconstruction and Development (EBRD) has signed an agreement with PJSC Ukrhydroenergo to provide a €75 million loan to finance the project “Modernization and restoration of hydroelectric power plant generation facilities,” the company said.
“The loan financing is supported by a European Union guarantee under the Ukraine Investment Framework, an instrument for mobilizing financing for Ukraine’s recovery and long-term growth,” the company said in a statement on its Telegram channel on Thursday.
According to the statement, the financing package also includes investment grants from international donors amounting to EUR 20 million.
“The estimated total cost of the project, including Ukrhydroenergo’s own contribution, is approximately EUR 120 million,” the company concluded.
According to the chairman of the supervisory board, Valentin Gvozdiy, attracting EBRD financing under the EU guarantee is an important confirmation of the confidence of international partners in Ukrhydroenergo and the quality of the company’s corporate governance.
“The project will strengthen the reliability of hydroelectric power plants and, accordingly, the stability of Ukraine’s energy system,” he said.
As noted in the statement, the project funds are planned to be used, in particular, to purchase critically needed equipment for certain hydroelectric power plants of the company, such as hydraulic power equipment damaged as a result of Russia’s military aggression, hydromechanical equipment for modernization, and equipment for responding to emergencies in conditions of martial law (emergency assistance mechanism).
As noted by Bogdan Sukhetsky, acting director general of Ukrhydroenergo, the funding will enable the timely purchase and implementation of critically needed equipment, as well as the creation of a reserve for rapid response to emergencies.
“The availability of these funds is important for maintaining the continuous operation of the enterprise and fulfilling production tasks in difficult conditions,” he stressed.
The project also includes programs to improve the qualifications of engineering personnel, enhance ESG practices, and prepare an action plan for gender equality. The project is scheduled for completion in 2030.
On December 8, Ukrhydroenergo announced a tender for car insurance for its branches, according to the Prozorro electronic public procurement system.
The expected cost of purchasing insurance services is UAH 4.620 million. The deadline for submitting documents for the tender is December 16.
On June 6, PJSC Ukrhydroenergo announced a tender for voluntary motor vehicle insurance (CASCO) for its subsidiaries (Kiev Hydroelectric Power Plant Cascade and Pumped Storage Power Plant), according to the Prozorro electronic public procurement system.
The expected cost of the insurance purchase is UAH 344,857 thousand.
The deadline for submitting tender documents is June 16.
Ukrhydroenergo operates all large hydroelectric power plants located on the Ukrainian sections of the Dnieper and Dniester rivers. The total installed electric capacity of the power company’s hydroelectric power plants is 5,744.8 MW.
PJSC “Ukrhydroenergo” on December 4 announced its intention to conclude with IC “European Insurance Alliance” the contract of compulsory insurance of motor liability of owners of land vehicles.
According to the information on the web portal Prozorro, the price offer of IC “European Insurance Alliance” amounted to UAH 773.3 million at the expected cost of the purchase of services of UAH 790.27 thousand. IC Krajina participated in the tender with the offer of UAH 774,4 th.
EUROPEAN INSURANCE ALLIANCE, MOTOR INSURANCE, UKRHYDROENERGO
PJSC “Ukrhydroenergo” on November 28 announced a tender for insurance of motor vehicles of its branches. According to the information on the Prozorro portal, the expected cost of purchasing services is UAH 3.322 mln.
Documents for participation in the tender are accepted until December 6.
During the Ukraine Recovery Conference in Berlin, Ukrhydroenergo and the international corporation AECOM signed a memorandum of cooperation in the implementation of projects aimed at restoring and reconstructing hydropower facilities.
According to the website of the operator of Ukrainian hydroelectric power plants and pumped storage plants on Tuesday, AECOM will act as a technical consultant for the restoration of Ukraine’s hydropower infrastructure.
“AECOM has many years of professional experience in the development, design and reconstruction of hydropower facilities and dams around the world. The signing of the Memorandum and our cooperation will be another important step in the restoration of the damaged Ukrainian energy infrastructure in general, and hydropower generation in particular,” said Ihor Syrota, CEO of Ukrhydroenergo, as quoted in the company’s statement.
According to him, the signing of the memorandum will also help create incentives and guarantees at the state level to attract investment and innovative technologies in the energy sector.
“We are proud to cooperate with Ukrhydroenergo, and we are strengthening our role in supporting the restoration of Ukraine’s critical infrastructure,” AECOM CEO Troy Rudd said, as quoted by the press service of Ukrhydroenergo.
AECOM, hydropower generation, MEMORANDUM, RESTORATION, UKRHYDROENERGO
