📋 Tender Overview
Location: Ukraine
Project number: 54753
Business sector: Energy
Notice type: State
Environmental category: B
EBRD Finance Summary: EUR 200,000,000
Total Project Cost: EUR 289,000,000.00
Project Description
The provision of up to EUR 200 million sovereign-guaranteed loan to PJSC "Ukrhydroenergo" (the "Company" or "UHE"). The loan consists of (1) up to EUR 150 million to finance supply of critical equipment for the Dnipro and Seredniodnipro hydro power plants, and (2) up to EUR 50 million for the emergency liquidity support for the Company. The loan facility will be divided into two tranches of up to EUR 100 million each with one tranche to be funded by EBRD and the other one using funds advanced by Italy to EBRD for that purpose.
Project Objectives
The implementation of the Project will enhance Ukraine's energy security by financing the replacement of 4 hydropower generation units at the Dnipro hydro power plant (HPP), which were worn out due to extensive exploitation since 2003 and damages caused by missile attacks on the Dnipro HPP. The total production capacity of the respective equipment is expected to increase by 16%. The project will also enable UHE to replace old gantry cranes at the Seredniodnipro HPP, which are crucial for maintaining the hydropower plants efficiently. Additionally, the emergency liquidity support will help the Company strengthen its financial health and operations, especially on the back of increased public service obligations.
Transition Impact
ETI score: 70
The Project holds significant importance in ensuring the continued stable and safe production of electricity, while also addressing the pressing liquidity needs of the Company. The primary transition impact of the Project is driven by the need to support the resilience of the Company, its financial standing and operations, as well as to enhance energy security of Ukraine by providing vital financial support to restore and maintain production capacities of UHE (Resilient). The implementation of the Project will enable the Company to replace the damaged critical equipment for the Dnipro and Seredniodnipro hydro power plants and allow to increase its operational efficiency, hydro powered electricity generation capacities and energy production volumes (Green).
