The European Investment Bank (EIB) is considering the possibility of allocating a loan of approximately EUR 100 million to support the hydropower industry of Ukraine.
Prime Minister Denys Shmyhal announced this on Telegram, the Ukrainian News agency reports.
"On March 19, during a meeting with the president of the European Investment Bank, Nadia Calvino, a memorandum was signed between the bank and Ukrhydroenergo. Due to the actions of russian terrorists, the hydropower industry of Ukraine lost about 2,500 MW of capacity. Thanks to the efforts of the government and partners, more than 1,500 MW has already been restored. The restoration is ongoing and will accelerate," he wrote.
At the same time, the Ukrhydroenergo energy generating company reported that the memorandum defines the intentions of the company and the bank in promoting the implementation of the project "Equipment restoration to increase the operational stability and reliability of hydroelectric power plants."
"The project is aimed at providing support for the liquidity and stability of the work of Ukrhydroenergo. Currently, the possibility of allocating a loan in the amount of approximately 100 million euros is being considered, which is currently under consideration at the EIB. The parties will cooperate in the field of technical re-equipment of three hydroelectric power plants by replacing hydrotechnical and hydropower equipment at Kaniv, Kremenchuk, and Dnipro HEPPs," the message reads.
As the Ukrainian News agency earlier reported, the European Bank for Reconstruction and Development (EBRD) and Italy will provide Ukrhydroenergo with EUR 200 million in loans for the restoration of hydropower plants.
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