| Project Detail |
Location:
Ukraine
Project number:
54753
Business sector:
Energy
Notice type:
State
Environmental category:
B
Approval date:
24 Jan 2024
Status:
Passed Final Review, Pending Approval
PSD disclosed:
21 Dec 2023
The provision of up to EUR 200 million sovereign-guaranteed loan to PJSC "Ukrhydroenergo" (the "Company" or "UHE"). The loan consists of (1) up to EUR 150 million to finance supply of critical equipment for the Dnipro and Seredniodnipro hydro power plants, and (2) up to EUR 50 million for the emergency liquidity support for the Company. The loan facility will be divided into two tranches of up to EUR 100 million each with one tranche to be funded by EBRD and the other one using funds advanced by Italy to EBRD for that purpose.
Project Objectives
The implementation of the Project will enhance Ukraines energy security by financing the replacement of 4 hydropower generation units at the Dnipro hydro power plant (HPP), which were worn out due to extensive exploitation since 2003 and damages caused by missile attacks on the Dnipro HPP. The total production capacity of the respective equipment is expected to increase by 16%. The project will also enable UHE to replace old gantry cranes at the Seredniodnipro HPP, which are crucial for maintaining the hydropower plants efficiently. Additionally, the emergency liquidity support will help the Company strengthen its financial health and operations, especially on the back of increased public service obligations. |
