The EIB funds will support the refurbishment of 22 conventional and pumped storage hydropower plant units at six power stations along the Dnieper River in central Ukraine. The total final installed capacity of this project will be 980MW. Once completed, it will extend the economic lifetime of these renewable energy facilities and increase the available electrical capacity by 10%. In addition, the project will improve the operational performance of the Ukrainian power system and assist in its synchronisation in the medium term with the European electricity transmission system.
This project will be co-financed by the European Bank for Reconstruction and Development (EBRD). Technical assistance to support project implementation is funded through the Neighbourhood Investment Facility.
“This is the first EIB-financed project in Ukraine contributing to increasing the share of electricity generation from renewable sources,” said EIB Vice-President Anton Rop. “This will contribute to the reduction of alternative fossil fuel consumption implying a significant decrease in CO2 emissions and help Ukraine to meet its climate change commitments.”
