The national electricity transmission system operator “Ukrenergo” will soon receive funding of up to €150 million for the modernization and restoration of Ukraine’s energy system. The European Bank for Reconstruction and Development (EBRD) plans to provide the company with a loan of up to €90 million backed by a state guarantee. The main areas of fund utilization will include the reconstruction of specific substations, the purchase of backup electrical equipment, and equipment for the development of intersystem connections.
This is reported by Business • Media
Support from International Partners
The project has already passed the final review and is awaiting approval from the EBRD Board of Directors. In addition to the loan, international donors plan to provide additional grants totaling up to €60 million. Thanks to this funding, the resilience of Ukraine’s electricity transmission system will be enhanced, which is particularly relevant in the context of ongoing Russian attacks on energy infrastructure.
“The €150 million project will enhance the resilience of the electricity transmission system amid ongoing Russian attacks to ensure uninterrupted electricity supply to households and businesses across Ukraine.”
Reconstruction Plan and New Facilities
The funding will be directed towards upgrading three existing substations and completing the construction of another new substation in Ukraine. This will ensure continuous electricity supply for both households and industrial enterprises in various regions of the country.
Since the beginning of the full-scale invasion by Russia in February 2022, the EBRD has already provided “Ukrenergo” with loans three times as part of its ongoing support, as well as financed emergency investments for the restoration of power grids affected by hostilities.