Ukraine will receive € 200 MILLION IN CREDIT FOR MODERNIZATION plant
The project resulted in the total installed capacity of hydropower will reach 980 MW and will increase the available electrical power for a total of 10%.
It will also prolong the economic life of the asset and improved performance of the Ukrainian energy system that will help in the medium term, it synchronizes with the European system of power transmission.
Vice-President of the European Investment Bank, Anton Rop said that this project is a first for the EIB in the area of cooperation with Ukraine in the field of increasing the share of electricity from renewable sources. The project will also contribute to the reduction of alternative fossil fuel consumption, which implies a significant reduction in emissions of CO2, as well as help Ukraine meet its obligations in the fight against climate change.
The project is co-financed by the EBRD. Funds and technical assistance to support the implementation of the project will be provided by the EU Neighbourhood Investment Facility.
To date, the EIB has provided Ukraine, about 1.3 billion in loans for projects in the energy, infrastructure and water sectors, as well as in support of SMEs.
