Ukrhydroenergo and EIB: Partnership for the Development of Hydropower in Ukraine

admin February 16, 2024
Press service of Ukrhydroenergo

In Kyiv, a working meeting took place between representatives of Ukrhydroenergo and a delegation from the European Investment Bank (EIB) led by the head of the EIB's regional representation in Eastern European countries, Jean-Eric de Zagon.

The parties discussed the status of current projects and opportunities for further cooperation in developing the hydropower sector.

Ihor Syrota, CEO of Ukrhydroenergo, presented the key achievements and challenges the company faces on implementing strategic initiatives amid armed aggression by Russia. He emphasised the critical role of investments in modernising and developing the hydropower sector, which will ensure energy security.

"The joint goal of Ukrhydroenergo and the European Investment Bank is to create innovative and sustainable solutions in the field of hydropower that meet modern requirements and contribute to Ukraine's energy independence. Despite the challenges of wartime, we fully meet our financial obligations. We pay taxes and public service obligations on time and in full. We are open to new initiatives that will promote the sustainable development of our country and ensure the energy security of its future," he noted.

Representatives of the European Investment Bank expressed their readiness to further cooperate with Ukrhydroenergo, recognising the company as a reliable partner in implementing strategic projects in the hydropower sector. The EIB confirmed its interest in providing financial and technical support to achieve common goals in this critical area.

It is worth recalling that in December 2023, Ukrhydroenergo received a tranche of 133 million euros from the European Investment Bank for the comprehensive project "Rehabilitation of Hydroelectric Power Stations." The allocated funds are directed not only towards the modernisation and reconstruction of hydropower facilities owned by the company but also towards the restoration of damaged energy facilities and capacities lost due to shelling.