The Ukrhydroenergo energy generating company has started an investment arbitration procedure against the aggressor state of russia regarding the compensation of USD 2.5 billion in damages caused by the destruction of the Kakhovka Hydroelectric Power Plant.
This is stated in the company's message, the Ukrainian News agency reports.
"Recently, we sent a message to russia that we are applying to the International Court of Arbitration and will file a lawsuit regarding the lost profit and the cost of building and restoring the station. We will demand compensation from the aggressor for damages. Preliminary it is about USD 2.5 billion. This is a long legal procedure, according to which, within six months, if the russian federation does not indemnify the losses, we will file a lawsuit," said Director General of Ukrhydroenergo Ihor Syrota.
The company estimates that resorting to international arbitration is the most promising way to compensate for losses from the terrorist attack on the Kakhovka HEPP.
As the Ukrainian News agency earlier reported, in September 2022, Ukrhydroenergo filed a lawsuit against russia with the European Court of Human Rights (ECHR) for compensation of UAH 17 billion in damages.
On the night of June 6, 2023, russian invaders blew up the Kakhovka HEPP dam, which resulted in human casualties, lost homes, and serious environmental consequences.
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