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EBRD EUR149 million loan to support upgrade of Ukraines transmission network

30.07.2019 12:08 "Agro Perspectiva" (Kyiv) Loan to support Ukrenergos ongoing modernisation

EBRD loan of up to EUR149million to National Energy Company Ukrenergo

26new transformers to be acquired, 12high-voltage substations upgraded

Support for synchronisation of Ukrainian and European electricity networks

Ukraines energy network will receive a major boost following an investment of up to EUR149million by the EBRD into the countrys power transmission system.

The investment will help Ukrenergo upgrade its key transmission infrastructure required for the synchronisation with the European electricity networks. It will also assist Ukraine in aligning its legal framework and operational practices with the EU 3rd Energy Package.

Ukrenergo will use the 15-year sovereign-guaranteed loan to acquire up to 26new transformers and carry out the automation and upgrade of 12high-voltage substations in key locations of the Ukrainian transmission network. The loan will also contribute to the annual reduction of CO2emissions by 20,500tonnes.

The investment will strengthen Ukrenergos capacity to accommodate the growing share of renewables in the Ukrainian grid, with an increasing share of wind and solar power. A flexible, smart grid will be key to the sustainable electricity sector of the future.

The EBRD financing is also promoting the commercialisation and institutional development of Ukrenergo through the implementation of a comprehensive Corporate Governance Action Plan and robust procurement standards.

The EBRD is the largest international financial investor in Ukraine. Since the start of its operations in the country in 1993, the Bank has made a cumulative commitment of almost EUR13.6billion through 432projects in the country.

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