EIB mulling issue of EUR130 mln to Ukrenergo for modernization of substations

12:59, 27.07.2017 1 min read

The European Investment Bank (EIB) is considering the issue of a EUR 130 million to Ukrenergo for modernization of substations, according to the website of the financial institution.

The EIB said the project is aimed at improving energy efficiency, reliability of equipment, reducing operating costs. Its implementation will contribute to the integration of Ukraine's energy system with the European Network of Transmission System Operators for Electricity (ENTSO-E).

The total cost of the project is EUR280 million.

As reported, Ukrenergo operates trunk and interstate power grids, as well as carries out the centralized dispatching of the united power system of the country. The company is owned by the state and subordinated to the Ministry of Energy and Coal Industry.