Energoatom secures US$237 million loan for uranium fuel supply from Urenco
Energoatom, Ukraine’s state nuclear energy regulator, and a consortium of international banks consisting of Deutsche Bank AG and Barclays Bank PLC have signed a loan agreement on 17 July 2024 for the amount of GBP 181 million (US$237.11 million).
Source: Ukraine’s Energy Ministry
Details: The purpose of the loan is to ensure the fulfilment of the agreement between Energoatom and Urenco regarding the procurement of nuclear fuel.
Specifically, as stated in the announcement, the funds will be used to finance the supply of nuclear materials – enriched and natural uranium hexafluoride – under the mentioned contract.
Quote: "The agreements provide for the supply of nuclear materials until 2035, with the possibility of extending the contract until 2043. The loan is granted for five years under the guarantee of the UK Government (through the export credit agency UKEF)," the Ministry of Energy reported.
Background:
- In November 2023, Energoatom and Urenco signed a contract for the supply of enriched uranium products for Ukrainian nuclear power plants.
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