Hydro Power Plant Rehabilitation Project

EBRD is considering a sovereign guaranteed loan provided to the PJSC “Ukrhydroenergo” (UHE) for up to €180 million to replace the undisbursed portion of a €200m sovereign loan signed on 29 September 2011, which is available to Ukraine and benefits the UHE. At the same time €20 million loan remains available to UHE for the Project purposes in accordance with the sovereign loan agreement signed in 2011. This financing will enable Ukrhydroenergo to complete the envisaged Project which is the upgrade of the hydro and electro-mechanical equipment of 7 hydro power plants owned by UHE, representing half of total large hydro generating capacities in Ukraine. This Project is part of a larger rehabilitation program of all UHE’s 4,600MW generation assets, split in 10 hydro power plants most of which were commissioned in the 1960s. The rehabilitation program started in 1996 and is planned to be completed by 2024.