02 July 2021, Friday, 14:02 213

World Bank Decides To Allocate USD 212 Million In Loan To Ukrhydroenergo To Install Energy Storage Systems And SPPs Construction

Редактор: Daria Zubkova

The World Bank has decided to allocate USD 2012 million in a loan to Vyshhorod-based Ukrhydroenergo energy-generating company (Kyiv region) to install energy storage systems and construction of solar power plants.

The Energy and Environmental Protection Ministry has said this in a statement, Ukrainian News Agency reports.

According to the report, the financing is provided to install 197 MW energy storage systems combined with solar panels at four hydro-electric power stations (HEPPs) to be attracted to provide assistance to the national power network.

As Ukrainian News Agency earlier reported, in 2020, Ukrhydroenergo’s net profit rose by 28.4% or UAH 914.3 million over 2019 to UAH 4.137 billion.

At the same time, Ukrhydroenergo boosted its net revenue by 59.2% or UAH 4,891 million year over year to UAH 13.153 billion.

The 100-percent stake in Ukrhydroenergo belongs to the state and controlled by the Cabinet of Ministers of Ukraine.

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