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EIB to invest 200 mln euro in Ukraine’s energy sector

September 24, 2012, 12:16 UTC+3
The project will make it possible to prolong the life time of Ukrainian hydropower plants and increase the volume of electricity generated by them by 10 percent
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BRUSSELS, September 24 (Itar-Tass) —— European Investment Bank has decided to invest 200 million euro in the modernization of Ukrainian hydropower plants, the bank’s communiqu·, which was received by ITAR-TASS, says. These funds will be spent within the program of Ukrgidroenergo aimed to repair and upgrade 22 generators at six hydropower plants on the Dneprt river, the power of which, according to the results, is to be increased up to 980 megawatts.

“This is the first project of the European Investment Bank in Ukraine aimed at increasing the share of renewable sources of energy in this country,” the document says. “This will make it possible to reduce the share of hydrocarbon fuel in Ukraine’s energy balance and, accordingly, limit emissions of carbonic gas.

The project will make it possible to prolong the life time of Ukrainian hydropower plants and increase the volume of electricity generated by them by 10 percent, as well as it will promote the synchronization of the Ukrainian electric energy network with the energy system of the European Union,” the bank’s statement says.

At present, the total volume of credits allocated to Ukraine by the European Investment Bank amounts to 1.3 billion euro.

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