Ukrhydroenergo and Aecon collaborate on hydroelectric power plants in Ukraine

28 September 2023

Ukrhydroenergo, the state-owned Ukrainian hydroelectric power company, has signed a Memorandum of Collaboration with Canadian firm Aecon Construction Global Services Inc, for the development of hydroelectric power plants in Ukraine. This agreement was formalized during a high-profile event held in Toronto, Canada.

The occasion took place during the working visit of Ukraine's President, Volodymyr Zelensk?y, to Canada. President Zelensk?y, alongside Canadian Prime Minister Justin Trudeau, inked an updated Free Trade Agreement between their two nations, reinforcing economic ties between Ukraine and Canada.

The new Memorandum of Collaboration will see the Ukrhydroenergo and Aecon collaborate on the construction of two significant hydroelectric power facilities - the Kanivska Pumped Storage Plant and the Kakhovska Hydroelectric Power Plant.

The signing ceremony featured Ihor Syrota, the Chief Executive Officer of Ukrhydroenergo, and John M. Beck, the founder and chairman of Aecon Group Incorporated. 

Ihor Syrota, CEO of Ukrhydroenergo, expressed his enthusiasm for the collaboration, stating, "Aecon, with its 150 years of experience in the construction industry working with public and private enterprises worldwide, will be a significant asset in the development and revitalization of Ukrainian hydroelectric power plants."

Earlier this month it was announced that Ukrhydroenergo had also  inked a Memorandum of Collaboration with GE Vernova's Hydro Power business that will see the companies collaborate on the restoration and rejuvenation of Ukrainian hydropower facilities.

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