Ukrhydroenergo and KfW discussed financing for energy recovery
As part of the Rebuild Ukraine conference, Ukrhydroenergo representatives held talks with representatives of the German Government's state-owned bank Kreditanstalt für Wiederaufbau (KfW).
The purpose of the meeting was to discuss ways to attract financing to restore the damaged facilities and ensure the sustainable operation of the Ukrainian power system.
Ihor Syrota, CEO of Ukrhydroenergo, discussed the current state of Ukraine's power system and the challenges faced by hydropower generation with Thomas Eisenbach, Head of Energy and Natural Resources in Eastern Europe, Caucasus and Central Asia at KfW Development Bank, and Almut Ahlers, Senior Project Portfolio Manager at KfW.
Particular attention was paid to finding new financing mechanisms that will allow the restoration work to continue in 2025.
“Since the beginning of the full-scale invasion, we have lost 40% of our hydroelectric generation capacity due to targeted attacks by the Russians. We understand how important it is to restore these capacities as soon as possible, as they play a key role in balancing the power system during peak load hours. Cooperation with international financial institutions is critical to further stabilize Ukraine's power system. We are committed to consolidating our efforts to attract resources and utilize them as efficiently as possible,” said Ihor Syrota.
