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  • Cooperation with EBRD

    Ukrenergo and the European Bank for Reconstruction and Development (EBRD) have many years of experience in successful cooperation. EBRD provides project financing only. Before making the final decision to grant a loan, representatives of this European financial institution thoroughly review all technical and economic parameters of the proposed project. Financing is provided directly to contractors under valid contracts, which means that funds are bypassing Ukrenergo’s accounts.

    The project’s key purpose is to facilitate the maximum utilization of rated capacity of Rivnenska and Khmelnytska NPPs, replace electricity generated by thermal power plants with cheaper electricity generated by nuclear power plants, thus saving gas, mazut and coal and reducing emissions of pollutants and greenhouse gases, and enhance stability of electricity supply to consumers of Kyiv electricity generation system by diverting surplus capacity from the western part of the IPS of Ukraine when both NPPs are located.
    Total Project value: EUR 300.0 million, including:
    EBRD loan: EUR 150 million (maturity date: 31.12.2017
    Amount used: EUR 144.7 million (96% of the loan amount)
    EIB loan: EUR 150 million (maturity date: 30.06.2015, negotiation with EIB is underway to extend the loan until 31.12.2020 due to inclusion of an additional component to the Project: Brovarska 330 kV SS)
    Amount used: EUR 64.45 million (43% of the loan amount)
    Legal agreements:
    Loan Agreement between Ukraine and EBRD, signed on 28.02.2008, ratified on 29.10.2008 (Law of Ukraine No 621-VI), and entering into force on 25.03.2009
    Project Agreement between Ukrenergo NPC SE and EBRD, signed on 28.02.2008
    Financial Agreement between Ukraine and EIB, signed on 20.10.2008, ratified on 01.04.2009 (Law of Ukraine No 1215-VI), and entering into force on 15.09.2009
    Project Agreement between Ukrenergo NPC SE and EIB, signed on 20.10.2008
    Based on international tenders held according to the EBRD Procurement Rules and Principles, four construction contracts worth the total of EUR 246.9 million and a consulting service contract worth EUR 530 thousand have been signed within the Project’s framework:

    – construction of 750 kV Rivnenska NPP – Kyivska SS OL, contractor: Kalpataru Power Transmission Ltd., India;

    – construction of 750 kV Khmelnytska NPP – Chornobylska NPP OL input to Kyivska 750 kV SS, contractor: Dalekovod, Croatia;

    – enlargement and upgrade of Kyivska SS by installing the second 750/330 kV automatic transformer, contractor: Dalekovod, Croatia;

    – construction of 330 kV Chornobylska NPP – Pivnichna OL input to Kyivska SS, contractor: Kalpataru Power Transmission Ltd., India;

    – consulting services (assistance in procurements and project management, technical support to the Project Management Group, consultant: ERBE, Hungary.

    Expected Project completion term: December 2020

    The project’s key purpose is to enhance reliability of operating modes in the southern part of the IPS of Ukraine by lifting power grid limitations on the output capacity of Zaporizka NPP, stabilize voltage in Pivdenna Power System, increase handling capacity of sections in the southern part of the IPS of Ukraine by enhancing connection of Kakhovka electricity generation system with trunk power grids of the IPS of Ukraine.
    Total Project value: EUR 350.0 million, including:
    EBRD loan: EUR 175 million (maturity date: 28.02.2017, to be extended until 31.03.2018 due to the entry into force of the Additional Agreement No 1 to the Loan Agreement, providing financing to the additional component: construction of Zakhidna 330 kV SS)
    Amount used: EUR 109.5 million (63%)
    EIB loan: EUR 175 million. Maturity date: 31.12.2016 (possible extension of the loan until 31.12.2020 is being considered due to inclusion of an additional component to the Project: installation of ВОЛЗ in the southern ring of Ukraine).
    Amount used: EUR 60 million (34% of the loan amount)
    Legal agreements:
    Loan Agreement between Ukraine and EBRD, signed on 19.10.2010, ratified on 06.07.2011 (Law of Ukraine No 3594-VI), and entering into force on 19.10.2012
    Project Agreement between Ukrenergo NPC SE and EBRD, signed on 19.10.2010
    Financial Agreement between Ukraine and EIB, signed on 16.09.2011, ratified on 18.09.2012 (Law of Ukraine No 5256-VI), and entering into force on 03.12.2012
    Project Agreement between Ukrenergo NPC SE and EIB, signed on 16.09.2011
    Based on international tenders held in 2013, five contracts worth the total of EUR 198.8 million have been signed within the Project’s framework:
    – construction of 750 kV Zaporizka NPP – Kakhovska SS OL, contractor: Instalaciones Inabensa, Spain;
    – construction of Kakhovska 750/330 kV SS with installation of АТ2 1000 MVA, including automatic control system for technological processes, РЗА, and relevant infrastructure, with Soyuz-Seti Engineering & Construction Company CJSC, Russia of 22.01.2014
    – construction of Kakhovska 750/330 kV SS with installation of АТ1 1000 MVA and relevant infrastructure, contractor: ABB AG, Germany – KEBK LLC, Ukraine;
    – construction of 330 kV Novokakhovska – Ostrovska OL input to Kakhovska SS, contractor: Dalekovod, Croatia
    – construction of 330 kV Novokakhovska – Khersonska OL input to Kakhovska SS, contractor: Dalekovod, Croatia
    Expected Project completion term: December 2020
    Presently, preparation of tender documentation for the Package 5 “Construction of Zakhidna 330 kV SS” is nearing the completion, and prequalification of companies willing to enter the tender for the Package 5 “Construction of Zakhidna 330 kV SS” is already underway. On 30 June 2016, 18 companies have applied for prequalification, and their applications are now being screened by Ukrenergo NPC SE. The prequalification phase is expected to be completed by the end of March 2017.