The European Bank for Reconstruction and Development and Ukrhydroenergo have signed a financing agreement for the project “Modernization and Restoration of Hydroelectric Power Plant Generation Facilities.”
Under the agreement, financing includes a EUR 75 million loan complemented by EUR 20 million in grant funding to support the restoration and sustainable operation of hydroelectric power plants under martial law. The financing package is backed by guarantees from the European Union.
The funds will be directed toward the emergency replacement of equipment damaged by Russian attacks, the modernization of selected hydropower facilities, and the establishment of an emergency response mechanism to ensure the stable operation of the power system.
“Hydropower plays a critical role in balancing the power system, particularly amid continuous attacks on generation capacity. The modernization of hydroelectric power plants is therefore essential for energy security, economic stability, and the long-term sustainability of the state,” emphasized Roman Andarak at the signing ceremony.
The project represents a key step in enhancing the reliability of Ukraine’s power system and aligns with national priorities for the protection and restoration of critical energy infrastructure.
Roman Andarak expressed his appreciation to the EBRD and the European Union for their trust and support, noting that the financing will facilitate timely modernization efforts, strengthen system resilience, and enhance the flexibility of Ukraine’s energy sector.
