Contingency Emergency Response: Ukrhydroenergo agreed with World Bank to allocate part of the loan to restoration damaged HPPs and PSPPs
A relevant document was signed between Ukrhydroenergo and World Bank during the Ukraine Recovery Conference 2024 in Berlin.
The new part of the agreement provides for amendments to the loan documents under the project “Ukraine – Improving Power System Resilience for European Power Grid Integration (Installation of Hybrid Systems for Electricity Production in Ukrhydroenergo)", signed at September 13, 2021.
The inclusion of part 3 "Contingency Emergency Response Component" in the loan agreement will allow Ukrhydroenergo to use USD 123 million of the total loan amount to purchase electrical equipment (for backup or replacement of damaged equipment) for all of the Company's facilities. The goal is to ensure uninterrupted and trouble-free operation of HPPs and PSPs, as well as to ensure the generation and supply of electricity produced by the company to the grid, to create the necessary reserves of equipment critical for the operation of HPPs and PSPs, to support electricity generation and to ensure the ability to promptly replace equipment in the context of russia's ongoing military aggression.
We are grateful to World Bank for its ongoing assistance and support in the implementation of the projects.
