Ukraine and the World Bank signed two agreements for a $240 million grant to improve the reliability of the energy system
The first agreement provides funds to the German government to be used for the purchase and installation of STATCOM
NPC Ukrenergo, the Ministry of Energy and the Ministry of Finance have signed two agreements with the World Bank to provide the company with $240 million in grant assistance to improve the reliability of the power system.
Source. This was announced by Volodymyr Kudrytskyi, Chairman of the Board of Ukrenergo, on Facebook.
"Almost $240 million is another significant contribution from our international partners to ensure the stability of our connection to the European power system and the restoration of high-voltage substations," he wrote.
According to his statement, the first agreement provides for the provision of grant funds from the German government to Ukrenergo, which will be used to purchase and install STATCOM – special devices that increase the stable operation of the power system.
"Ukrenergo fulfills an important technical condition of ENTSO-E to strengthen our connection to the European grid. STATCOM devices will not only increase the resilience of the Ukrainian power system, but will also have a positive impact on the balance of the entire united European continental grid," explained Kudrytskyi.
Another document provides for the transfer of assistance to NPC for the purchase of special equipment, autotransformers and other high-voltage equipment damaged by Russian missiles and drones.
Nfrj; the head of Ukrenergo thanked the Ukrainian government, WB Vice President for Europe and Central Asia Antonella Bassani and WB Regional Director for Eastern Europe Arup Banerjee "for fruitful joint cooperation and strengthening Ukraine's energy security".
Background. Earlier, the Ministry of Energy reported that Ukraine had lost 50% of its energy facilities in 500 days of war.
If you have read this article to the end, we hope that means it was useful for you.
We work to ensure that our journalistic and analytical work is of high quality, and we strive to perform it as competently as possible. This also requires financial independence. Support us for only UAH 196 per month.
Become a Mind subscriber for just USD 5 per month and support the development of independent business journalism!
You can unsubscribe at any time in your LIQPAY account or by sending us an email: [email protected]
