EIB could lend Ukrhydroenergo 100 mln euros to re-equip three HPPs

MOSCOW. March 20 (Interfax) - Ukrhydroenergo and the European Investment Bank have signed a memorandum of understanding on re-equipping hydropower plants.

The project is aimed at supporting the liquidity and stability of Ukrhydroenergo's operations, Ukrainian media quoted the Ukrhydroenergo press office as saying on Telegram. The EIB is thinking of issuing a loan of around 100 million euros.

The "Recovery of Equipment to Increase the Operational Stability and Reliability of Hydroelectric Power Plants" project will involve replacing hydraulic power equipment at the Kanevskaya, Kremenchugskaya and Dneprovskaya HPPs.

Ukrhydroenergo received a tranche of 133 million euros from the European Investment Bank for the "Hydropower Plants Rehabilitation" project in December 2023.

Ukrhydroenergo and the European Bank for Reconstruction and Development signed a loan agreement to finance the "Emergency Recovery of Hydropower Plants" project in February 2024. The EBRD loan of 100 million euros is supported by a parallel concessional loan of 100 million euros from Italy.