Public joint-stock company Ukrhydroenergo (Vyshgorod, Kyiv region) has announced a tender to raise a non-renewable credit line of UAH 1 billion, according to a company report in the Visnyk Derzhavnykh Zakupivel bulletin.

The company said that it is planned to raise funds for five years from September 2014 to August 2019 to build the Dnistrovska hydroelectric pumped storage power plant.

Bids can be submitted by August 8, 2014. They will be opened on the same date.

As reported, the Dnistrovska hydroelectric pumped storage power plant is being built in the Chernivtsi region on the Dniester River. According to the project, the installed capacity of the first phase in turbine mode is 972 megawatts, and in pumping mode 1,263 megawatts. So far, units one and two have been commissioned. The launch of unit three is scheduled for 2015.

Ukrhydroenergo operates all of the major hydroelectric power plants on the Ukrainian sections of the Dnipro and Dniester rivers. Their total electricity generating capacity comes to five gigawatts. The Energy and Coal Industry Ministry owns 100% of the shares of the company.