17:50 10.10.2017

Economy Ministry starts examining Ukraine-EU Energy Bridge project worth EUR 243.5 mln

Economy Ministry starts examining Ukraine-EU Energy Bridge project worth EUR 243.5 mln

The Economic Development and Trade Ministry of Ukraine has begun to examine the project of the Ukraine-EU Energy Bridge worth EUR 243.5 million, which envisages transmission of power generated by the second reactor of Khmelnytsky NPP to the EU energy system, First Deputy Prime Minister, Economic Development Minister Stepan Kubiv said commenting on the results of the meeting with representatives of the consortium of companies Westinghouse, Polenergia and EDF.

The Ukraine-EU Energy Bridge could become the first public-private partnership (PPP) project to be implemented in accordance with the amended PPP legislation, which will contribute to the integration of Ukraine's energy system into the European energy grid ENTSO-E and will give an opportunity for exporting Ukrainian nuclear power," Kubiv wrote on his Facebook page.

According to him, the project implementation may add to the country's national budget about EUR 2.9 billion in taxes and dividends.

Westinghouse Electric Sweden AB, Polenergia International S.àr.l. and EDF Trading Limited, a consortium of companies, earlier sent a concept note and the feasibility study for public private partnership in the project on establishing the Ukraine-EU Energy Bridge.

The Energy Ministry said that a working group for implementing the project approved the conclusions after analyzing the efficiency of the implementation of the project and sent them to the Economic Development and Trade Ministry for approval. In addition, the relevant section of the research and technical council of the Energy and Coal Industry Ministry endorsed the scheme for connecting reactor two of Khmelnytsky nuclear power plant (NPP) to the European power grid.

The Ukraine-EU Energy Bridge project envisages the organization of transmission from reactor two of Khmelnytsky NPP to the European power grid. The funds that will be received from exports of this electricity will be used to finance construction of reactors three and four of the NPP.

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