📋 Tender Overview
Location:
Ukraine
Project number:
55678
Business sector:
Energy
Notice type:
State
Environmental category:
B
Approval date:
04 Dec 2024
Status:
Pending Approval
English-language PSD published:
04 Dec 2024
Project Description
A sovereign guaranteed loan of up to EUR 80 million to the "PJSC Ukrnafta" (the "Company" or "Ukrnafta"), to finance its emergency capex.
The Loan will finance the supply and installation of around 100 MW of small-scale gas-fired distributed power and co-generation capacities at selected sites across Ukraine, helping to address the electricity deficit and to ensure uninterrupted energy supply to the population and businesses.
Project Objectives
In the current crisis environment triggered by the war on Ukraine, the emergency capex program covering supply and installation of around 100 MW of distributed power generation capacity will support the Company in addressing the electricity deficit and ensuring uninterrupted energy supply to the population and businesses.
Transition Impact
ETI score: 70
The transition impact will be derived from the following qualities:
Resilient (by supporting construction of distributed power generation capacities thereby contributing to improved resilience of the country's energy system) and
Inclusive (by helping to safeguard access to electricity for population and businesses).
Client Information
UKRNAFTA
PJSC "Ukrnafta" is one of the largest oil and gas extraction companies in Ukraine and is owned by the state. The Company also owns and operates a large fuel retail chain and is one of the largest employers in the country with around 22 thousand full-time employees.
EBRD Finance Summary
EUR 80,000,000.00
Total Project Cost
EUR 103,800,000.00
EUR 103,800,000.00
The Project will be co-financed by a parallel investment grant of up to EUR 22 million expected to be provided by the Netherlands, the United States and/or other international donors via the EBRD Crisis Response Special Fund and EUR 1.8m technical support grant from multilateral or bilateral international donors.
Additionality
Financing Structure: Crisis response - EBRD financing is provided under the extraordinary circumstances of the war and effectively bridges the financing gap when the market for long-term capex financing in Ukraine is extremely scarce or not available.
Standard-setting: The client will benefit from EBRD's Human Capital Investment Incentive Grant programme.
Environmental and Social Summary
The Project is categorized B (ESP 2019). Impacts associated with the installation of low-capacity gas-fuelled generation units for the provision of emergency energy needs are site-specific and can be readily assessed through review of the technical documentation, analysis of site conditions, as well as secondary data. Such risks and impacts are well known to the Bank. Identified gaps will be addressed through an Environmental and Social Action Plan (ESA
