Business news from Ukraine

UKRHYDROENERGO TO INCREASE ELECTRICITY PRODUCTION BY 25% IN 2016

30 March , 2016  

KYIV. March 30 (Interfax-Ukraine) – PJSC Ukrhydroenergo plans in 2016 to increase production of electricity by 24.6% compared to 2015, to 8.008 billion kWh.

According to the company’s data, it is planned to increase productive supply in the current year from 6.209 billion kWh to 7.797 billion kWh.

Ukrhydroenergo in 2015 saw net profit rise by 2.3 times compared to 2014, to UAH 1.091 billion, net income by 1.7 times, to UAH 4.469 billion.

Its EBITDA in 2015 grew by 64.7% compared to 2014, to UAH 2.688 billion.

Ukrhydroenergo in 2016 expects a UAH 1.645 billion inflow of credit funds within the second stage of reconstruction of the hydro power plant, including UAH 814.1 million from the International Bank for Reconstruction and Development, UAH 500 million from the EBRD, UAH 300 million from the EIB. The plant also plans in the current year to obtain UAH 30.5 million from the International Bank for Reconstruction and Development for the construction of Kaniv pumped storage hydro station.

Electricity generation by the by nine hydroelectric and pumped storage plants of the company in 2015 fell by 26.2% compared to 2014, to 6.426 billion kWh.