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  • The overall performance of Ukrenergo on the 2019 investment programme is 95.2%

    According to operational data, in 2019, the percentage of fulfilling the investment programme by NPC Ukrenergo amounted to 95.2%. At the same time, in 2019, with its own funds (tariff), the Company financed  approximately 1.1 billion UAH in its projects, while loans from international financial institutions (MFIs) exceeded 1.9 billion UAH. The total amount of the investment programme for 2019 is slightly over 3 billion UAH.

    A high percentage of the investment programme performance for such a large company as Ukrenergo is always a difficult task. We have many longlasting complex projects, which cost billions UAH. For the last two years, we have been demonstrating the best results in the whole history of the Company. For the first time, the Company reached 95% of the performance in 2018 (95.8%), and this year, we have confirmed this result (95.2%). At the same time, more than 3 billion UAH of capital investments were financed by loans from international financial institutions. This approach in the allocation of funding sources allows to avoid a sharp increase in the Company’s tariff. After all, the interest rate on loans is low and involves long-term installments, said CEO of NPC Ukrenergo Vsevolod Kovalchuk.

    The commissioning of seven units of transformer equipment was self-funded this year:

    • Five autotransformers at substations (SS) 330kV Kremenchuk (4 АТ), Rivne (АТ-1), Poltava (АТ-3), Hirnycha (АТ-1), Bilotserkivska (АТ-2), and two reactors (R-1 and R-6) at SS 750kV Zakhidnoukrainska.

    Most of them form a part of a transformer programme, which involves the replacement and installation of 58 units of transformer equipment, the lifetime of which has expired (25-30 years), and the equipment has been working for over 40 years. Currently, 26 units of transformer equipment have been installed and commissioned within the programme.

    Within the projects financed by loans:

    • Construction of diversions of OHL 330kV Chornobyl NPPPivnichna at SS 750kV Kyivska is completed.

    It is a part of international investment project “Construction of OHL 750kV Rivne NPP — Kyivska” financed by loans of the European Bank for Reconstruction and Development (EBRD) and European Investment Bank (EIB).

    The goal of the project is to increase the reliability of power supply of the Kyiv power centre. In particular, to increase the power transmission from Rivne NPP and Khmelnytskyi NPP.

    • Commissioning of SS 750kV Kakhovska with autotransformer (АТ-2) (capacity 3*333 МWА) and power line 35kV Cherniankaown needs of SS 750kV Kakhovska. The facility is part of the construction project “OHL 750kV Zaporizhia NPP – Kakhovska with SS 750kV Kakhovska and diversions of OHL 330kV” financed by the EBRD. The goal of the project is to enhance the reliability of the southern part of the IPS of Ukraine by removing network restrictions on the power output of Zaporizhia

    Besides, during this year, due to international loans:

    • 149 million € were raised for “Modernisation of NPC Ukrenergo’s transmission network” project (EBRD);
    • 8.6 million € were raised for studies within the project of integration of the power system of Ukraine into ENTSO-E (KfW).

    Complex reconstructing and upgrading of a great number of substations were additionally included in the Second Power Transmission Project (PTP-2) financed by the World Bank (IBRD). Additionally, the reconstruction of six substations of Zakhidna PS was included: SS 330kV Rivne, Bohorodchany, Ivano-Frankivsk, Kovel, and SS 220kV Kalush and Boryslav.

    This was possible thanks to significant savings (over 50% of funds) for the implementation of this project, within which six other substations are already being upgraded: SS 330kV Novokyivska, Nyvky, Zhytomyrska, Cherkaska, Sumy, and Kremenchuk.

    Ukrenergo’s investment programme for 2020 foresees doubling the total amount of financing — up to 6.4 billion UAH. Most of this amount — 5.1 billion UAH — also loans.

    The largest projects of the investment programme for 2020 comprise: completing construction of SS 500kV Kreminska with diversions of OHL 500kV Donbaska-Donska and OHL 220kV Kreminska-Yuvileina (end of May), and construction of power lines 750kV Zaporizhia NPP – Kakhovska to remove power restrictions from Zaporizhia NPP and enhance reliability of consumers of the southern part of the IPS of Ukraine (end of І quarter).

    At the same time, it should be reminded that the Ministry of Energy and Environment Protection has not approved the investment programme of NPC Ukrenergo for 2020 that makes it impossible to get its approval by NEURC and start its implementation. The Company investment programme for 2020 has been approved by NEURC with significant delay by Resolution №458 of March 29, 2019.



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