PrJSC Ukrhydroenergo received a tranche of EUR133 million from the European Investment Bank (EIB) for the complex project Hydro Power Plants Rehabilitation.

“With the support of partners from the European Investment Bank and after receiving approval from government agencies, today we received a tranche in the amount of EUR133 million, which is part of the undrawn amount of the EIB loan for the ongoing project Hydro Power Plants Rehabilitation,” said General Director of Ukrhydroenergo Ihor Syrota.

According to him, thanks to the funds received, the company will be able to purchase critical equipment in order to quickly respond in the event of emergencies and ensure the prompt resumption of operation of both the company’s stations and the united energy system of Ukraine. The company also has the opportunity to continue to reconstruct the hydraulic units of the Ukrhydroenergo hydroelectric power station and pumped storage power plant on the Dnipro, which in turn will increase their operational reliability and capacity.

As Ukrhydroenergo noted, the allocated funds will be used not only for the modernization and reconstruction of hydropower facilities owned by the company, but also for the restoration of damaged energy facilities and capacities lost because of shelling.

“This is especially important given the partial destruction of Dniprovska hydroelectric power station and the destruction of the Kakhovka hydroelectric power station dam,” he emphasized.

In turn, as stated by EIB Vice-President Teresa Czerwinska, the European Investment Bank, as an EU bank, through its EU for Ukraine Fund and related initiatives, will remain firmly committed to supporting the immediate recovery and long-term sustainability of Ukraine.

“While Russian bombs wreak destruction, we have been adamant in supporting Ukraine from the very beginning. This EUR133 million underlines our strong commitment to helping the country, in particular to strengthen its energy infrastructure. They will allow Ukrhydroenergo to maintain the reliability of its equipment, which is essential for a stable and uninterrupted operation of the Ukrainian energy system,” she noted.