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EBRD allocates $149 million of euro for modernization of Ukrainian electricity grid

Ukrenergo will implement the program
13:51, 27 June 2019

Open source

The Cabinet of Ministers of Ukraine confirmed the involvement of the loan of the European Bank for Reconstruction and Development (EBRD) for the modernization of the electricity grid as Finance Ministry of Ukraine reported.

The EBRD will allocate $149 million of euro for implementation of the Program of modernization of the electricity grid. Ukrenergo will implement the program.

Related: U.S. to provide about $700 million of aid to Ukraine in 2019

It is expected that the project will allow to increase the efficiency and reliability of the electricity grid in Western, Northern, Southern and Central regions of the country. Moreover, the project is one of the components of the integration of the Ukrainian energy system into ENTSO-E.

“The project provides the replacement of the transformer equipment and reconstruction of 12 substations with the use of the automatized control systems of the technological processes at the substations. The complex of measures provided by the project will allow to manage the equipment of the substations from the regional centers in real time without constant presence of the operational staff at the objects. The implementation of digital technologies with automatic control system is the basis for the implementation of Smart Grid,” the ministry reported.

Related: Ukraine could get EUR 500 mln of aid by end of year, - Mingarelli

It is noted that the involvement of loan will allow to implement the number of measures for strengthening of the energy infrastructure of Ukraine.

Earlier we reported that Ukraine holds a very active discussion about new credit program with the International Monetary Fund due to the preparation for snap elections.

Besides, the IMF confirmed the readiness to come to Kyiv for the continuation of the negotiations after snap parliamentary elections. It will happen as soon as the new government will define the priority of its policy.

 

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