KfW’s loan for Ukrenergo substation reconstruction
The money will be used to finance the reconstruction of one of the substations by introducing an automated process control system.
Image for illustration purposes.
Ukraine, Kyiv: The Ukrenergo national energy company will attract a €30.4 million loan from the German Credit Institute for Reconstruction (Kreditanstalt für Wiederaufbau, KfW). The money will be used to finance the reconstruction of one of the substations by introducing an automated process control system. Volodymyr Kudrytskyi, chairman of the board of NEC Ukrenergo, announced this.
“The funds will be directed to the reconstruction and modernization of one of our facilities in the western region. The implementation of this project will significantly increase the efficiency and stability of our synchronous work with the European energy system. Together with our partners, we will restore a high-tech automated facility that will meet the requirements of ENTSO-E regarding the reliability of the power transmission system and network security. Also, part of the funding will be directed to the purchase of important high-voltage equipment,” he wrote.
According to him, since the beginning of the war, with KfW’s support, Ukrenergo has received more than €208 million. The Ukrainian News Agency has earlier reported that the EBRD is accumulating €300 million to support Ukraine’s energy sector. The funds are intended for the Ukrenergo, Ukrhydroenergo and Ukranafta companies to help in the restoration of generating capacities and infrastructure, and for the construction of a new decentralized generation.
Source: ukranews.com
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