PJSC Ukrhydroenergo has received a €133 million tranche from the European Investment Bank (EIB) for the ongoing Hydro Power Plants Rehabilitation Project. Initiated in 2012, this project seeks to reconstruct 21 hydroelectric units across selected power plants in the Dnipro River basin, encompassing Kyiv pumped storage project and the, Kaniv, Kremenchuk, Seredniodniprovska, Dnipro 1, and Dnipro 2 hydropower plants.
Ihor Syrota, Director General of PJSC Ukrhydroenergo, expressed appreciation for the invaluable support, emphasizing that the funding would empower the company to acquire critical equipment for emergency response, ensuring the swift restoration of both the company's power plants and the Ukrainian Unified Energy System. Syrota highlighted that the funds would also sustain the ongoing reconstruction of hydraulic units, thereby augmenting operational resilience and capacity.
"The received funding will allow us to purchase crucial equipment to respond quickly in case of emergencies and ensure prompt restoration of the operation of both the Company's power plants and the Ukrainian Unified Energy System in general. The Company will also be able to continue reconstructing the hydraulic units of Ukrhydroenergo's HPPs and PSPs on the Dnipro River, which will increase their operational resilience and capacity," said Syrota.
The allocated funds will not only upgrade and reconstruct Ukrhydroenergo's hydropower facilities but also contribute to the restoration of damaged power facilities and capacities lost due to shelling. This is particularly crucial, given the partial damage to Dnipro and the complete destruction of Kakhovka.
EIB Vice-President Teresa Czerwinska underscored the bank's unwavering commitment to supporting Ukraine in reinforcing its energy infrastructure, especially amidst constant attacks on energy facilities. "Since the beginning of the full-scale invasion and to this day, Ukraine’s energy facilities, including hydropower facilities, are under constant attacks. While Russian bombs bring destruction, we have been steadfast in offering support right from the beginning. This €133 million underscores our strong commitment to assisting the country, particularly in strengthening its energy infrastructure," stated Czerwinska.
European Commission Executive Vice-President for an Economy that Works for People, Valdis Dombrovskis, welcomed the disbursement, emphasizing that it will aid Ukraine in carrying out emergency repairs to its hydroelectric plants. "We warmly welcome the EIB’s latest disbursement to Ukraine to help it carry out emergency repairs to its hydro-electric plants. Backed by an EU guarantee, this is another valuable contribution to financing Ukraine’s urgent requirements as it struggles to restore essential services damaged by Russia’s aggression. It will allow state hydropower company Ukrhydroenergo to maintain the safe operation of Ukraine’s electricity grid, particularly crucial during the winter months," stated Dombrovskis.
