Italy seeks to enhance support for restoring Ukrainian hydroelectric power plants

Ihor Syrota, CEO of Ukrhydroenergo, met with Carlo Formosa, Ambassador of Italy to Ukraine. The meeting was also attended by Natalia Boyko, Advisor to the Prime Minister of Ukraine, and Vitaliy Kushnirov, Member of the Supervisory Board of the Company.  
The main topic of the meeting was the discussion of Italian support for the restoration of the Ukrainian hydropower industry under the loan agreement between the European Bank for Reconstruction and Development and the Italian Government, which provides for the allocation of EUR 200 million to restore Ukrhydroenergo's hydroelectric power plants damaged by rocket attacks. 

Igor Sirota thanked the Ambassador for supporting the energy sector: “Rebuilding the destroyed infrastructure is critical to ensuring the energy security of our country. We appreciate the support of countries that help us in such difficult times.” 

The Italian Ambassador, in his turn, confirmed Italy's readiness to provide financial support to Ukrainian hydroelectric power plants and pumped storage plants damaged by numerous shelling by russia.  

“We understand the importance of this infrastructure for Ukraine and are impressed by the heroism of Ukrainian power engineers who continue to work in the face of extraordinary challenges. We will actively contribute to implementing restoration projects,” said Carlo Formosa. 

Both sides reaffirmed their desire to strengthen cooperation and identified priority areas for joint energy projects. 

On February 17, 2024, Ukraine, the EBRD, and the Government of Italy signed an important Guarantee Agreement to support the Hydropower Emergency Restoration Project. On the Italian side, the document was signed by the Vice Prime Minister and Minister of Foreign Affairs Antonio Tajani. A loan agreement was signed between Ukrhydroenergo and the EBRD on the same day.  
This project aims to restore Ukraine's energy infrastructure damaged by Russia's military aggression, which is critical for the stability of our energy system and ensuring the country's energy security. The loan funds will be used to supply and install the necessary equipment for two hydroelectric power plants and to support the continuous operation of Ukrhydroenergo, the operator of all large hydroelectric power plants in our country.