Energoatom finishes work to attract loans worth EUR 600 mln from EBRD, Euroatom
National Nuclear Generating Company Energoatom on May 28 received a report from Euroatom that a loan agreement signed on August 7, 2013 and ratified by the Ukrainian parliament in May 2014 on the provision of a EUR 300 million loan to realize a comprehensive program to enhance safety at Ukrainian nuclear power plants (NPPs) has taken effect.
The press service of Energoatom said that on December 19, 2014 the loan agreement with the European Bank for Reconstruction and Development (EBRD) worth EUR 300 million took effect. The EBRD is the second creditor of the comprehensive program.
Energoatom President Yuriy Nedashkovsky said that the comprehensive program is a top-priority program for company. It is being financed by funds from the electricity transmission tariff set for the company.
"Loans from EBRD and Euroatom would help accelerating this work. We should say that Energoatom received the largest loan in the energy sector for the whole history of Ukraine, which is evidence of large trust of European institutions as EBRD and Euroatom to Ukraine's nuclear power generation. I want to thank everyone who took part in hard work on the fulfillment of tough conditions of Euroatom and EBRD, without which the loan agreements would not have taken effect," he said.
As reported, the program was approved by the Cabinet of Ministers of Ukraine on December 7, 2011.
Energoatom, Ukraine's nuclear power plant operator, runs the Zaporizhia, Yuzhnoukrainsk, Rivne and Khmelnytsky NPPs, which together have 15 reactors with a total generating capacity of 13,835 megawatts.