Business news from Ukraine


7 June , 2021  

The Cabinet of Ministers approved the decision to attract a $211 million loan from the International Bank for Reconstruction and Development (IBRD) and the Clean Technologies Fund (CTF) for PrJSC Ukrhydroenergo as part of an investment project to improve the sustainability of the integrated power system (IPS) for European integration, providing for the establishment of hybrid power generation systems, the Ministry of Energy has said.
According to the report, the decision, initiated by the Ministry of Energy, was made at a government meeting on Wednesday, although it was not on the agenda and was not discussed during the broadcast.
“To implement the project, loans will be attracted in the amount of $177 million from the IBRD and $34 million from the Clean Technologies Fund,” the ministry said.
According to the ministry, these funds will be channeled, in particular, for the installation of 197 Li ion battery energy storage systems at Ukrhydroenergo facilities, which are planned to be attracted to provide auxiliary services for frequency and power support. In addition, it is planned to install 63.9 MW of photovoltaic plants for the own needs of HPPs and PSPs and for charging the energy storage systems.
“Hybrid power generation plants based on battery storage will allow Ukrhydroenergo to provide the transmission system operator with an additional frequency regulation reserve and expand the regulating range of the automatic frequency recovery reserve required to ensure reliable operation and compliance with the operational safety of the IPS of Ukraine and good quality of electrical energy,” the ministry said.
At the same time, the Ministry of Energy said that highly maneuverable and fast-acting reserves, in terms of their parameters, have no analogues in the IPS of Ukraine.
The terms and conditions of the loans were not disclosed.
At the same time, the Ministry of Energy added that the Cabinet of Ministers approved the draft decree of the President of Ukraine on the delegation for negotiating and concluding guarantee agreements with financial institutions.
According to government resolution No. 550 dated June 2, 2021, published on the government portal, loans from the IBRD and CTF will be attracted by Ukrhydroenergo under government guarantees, the payment for which is 0.5% per annum of the selected and outstanding loan amount.

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