Public joint-stock company DTEK Dniproenergo (Zaporizhia) has selected DTEK Holdings Limited (Cyrpus) to attract a non-renewable credit line denominated in U.S. dollars of a sum equivalent to UAH 90 million, reads a report of the holding in the Visnyk Derzhavnykh Zakupivel bulletin.

The report says that the offer was accepted on August 14, 2013, and the final agreement is to be signed by September 13, 2013.

The funds are raised at 9.8% per annum for U.S. dollars. The funds will be raised from the moment of the signing of the agreement until September 2016. They will be used to refinance a loan raised to finance the retrofitting of unit one of Zaporizhia thermal power plant of Dniproenergo.

As reported, in August 2012, Dniproenergo finished retrofitting unit one of Zaporizhia thermal power plant and connected it to the Ukrainian power grid.

The cost of the reconstruction was UAH 493 million. The upgrade increased the unit's capacity from 300 MW to 325 MW. Fuel consumption is to fall from 365 grams per kilowatt-hour to 340 grams per kilowatt-hour, and the dust content in emitting gases will plunge by six times, from 320 milligrams per cubic meter to 50 milligrams per cubic meter.

Dniproenergo is one of the largest energy generating companies in Ukraine. It runs the Prydniprovska, Kryvy Rih, and Zaporizhia thermal power plants, which have a total generating capacity of 8.185 GW (25 energy generators).

DTEK holds a 72.9% stake in Dniproenergo and Energy Company of Ukraine holds 25%.

DTEK was created in 2005 to manage the energy assets of Rinat Akhmetov's System Capital Management (SCM, Donetsk).