Ukraine: EIB provides €133 million to strengthen resilience of hydropower plants
Ukraine has received €133 million from the European Investment Bank (EIB), the bank of the European Union, to continue financing the Hydro Power Plants Rehabilitation Project.
The project is implemented by Ukrhydroenergo, the largest hydropower generating company of Ukraine.
This funding is set to help in the restoration of the Ukrhydroenergo heating plants and pumped storage power stations, which were damaged by Russian shelling. The efforts will focus on replacing critical equipment, boosting operational reliability, and enhancing the efficiency and resilience of hydroelectric power plants along the Dnipro River. This is particularly crucial given the partial destruction of Dnipro HPP and the complete destruction of the Kakhovka HPP dam, the EIB said in a press release.
The disbursement of €133 million comes under the EIB Ukraine Solidarity Urgent Response package. Backed by an EU guarantee, this package helps Ukraine to repair damaged infrastructure, relaunch essential municipal services and support urgent measures amidst the ongoing heating season.
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