European Union allocates grant of €100 million to Ukrainian national power company
Friday, 19 July 2024, 13:17
Volodymyr Kudrytskyi, Chairman of the Management Board of Ukrenergo, a Ukrainian national power company, and Lorenz Gessner, Head of the KfW Representative Office in Ukraine, have signed an agreement worth €100 million.
Source: European Pravda with reference to the press service of Ukrenergo
Details: The European Commission has authorised KfW to allocate funds from the EU's special budget programme, Ukraine Investment Facility, to Ukrenergo.
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The allocated funds will be used:
- For the modernisation of high-voltage substations in the western oblasts of Ukraine and the development of interconnectors connecting Ukraine with the power system of continental Europe
- For repair and recovery of equipment destroyed or damaged by Russian attacks at high-voltage substations, as well as procurement and delivery of new equipment;
- For measures to strengthen the physical protection of Ukrenergoʼs substations.
This grant is the second phase of the targeted programme Reconstruction and Rehabilitation of Ukraine's Electricity Transmission Infrastructure.
Background:
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- On 11 June, Ukrenergo signed a €15 million agreement with KfW on the first phase of the programme during the Ukraine Recovery Conference in Berlin.
- Estonia has decided to donate equipment from Narva power plants to Ukraine.
- Lithuanian company Ignitis Gamyba is donating equipment from the Vilnius Third Combined Heat and Power Plant to Ukraine.
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