World Bank will give Ukraine $211 million for unified energy system



The delegations of Ukraine and the World Bank held talks on attracting $211 million of loans on concessional terms to implement the project “Ukraine – Increasing the stability of the energy system for European integration of the energy network (Installation of hybrid systems for generating electricity at Ukrhidroenergo)”.

UATV reports this referring to the Ministry of Energy of Ukraine.

They plan to attract $177 million from the World Bank and $34 million from the Clean Technologies Fund.

The project provides for the installation of energy storage systems with a capacity of 197 MW at four hydroelectric power plants, namely, the Kyiv, Kaniv, Kremenchuk and Seredniodniprovsk ones, operating under CJSC “Ukrhidroenergo”, as well as the construction of a solar power plant with a capacity of 35.9 MW, as a backup source of energy supply and for charging batteries.

“The implementation of the project will contribute to improving the reliability of the Ukrainian energy system, meeting the requirements for functioning in synchronization with European networks and international obligations in the field of reducing greenhouse gas emissions. This is identified as the priority areas of work of the Ministry of Energy”, – they note in the ministry.

Besides, earlier, it was reported that the World Bank will provide Ukraine with a $200 million loan for the modernization of higher education establishments.

date 09.06.2021
categories Economics

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