IBRD has signed a $ 211 million loan agreement with Ukrhydroenergo to install energy storage and SPP
The International Bank for Reconstruction and Development (IBRD), which is the World Bank's main lending institution, has signed an agreement with the PJSC Ukrhydroenergo to lend $ 211 million and $ 1 million in hybrid storage and generation systems as a grant for the implementation of these technologies in Ukraine.
The bank also signed a guarantee agreement with the Cabinet of Ministers of Ukraine (CMU), under which the government guarantees (through the state guarantee mechanism) the solvency of the PJSC Ukrhydroenergo.
The agreement was signed on September 13, 2021, with the participation of the Prime Minister of Ukraine Denis Shmyhal and e Vice President of the World Bank for Europe and Central Asia Anna Bjerde.
As stated by the CMU, funding is provided for the installation of 197 MW of energy storage systems in combination with solar panels at the PJSC Ukrhydroenergo’s hydropower plants, in particular: the Kyiv PSHP, the Kaniv HPP, the Kremenchug HPP, the Middle Dnieper HPP and Dniester HPP.
The total capacity of the energy storage systems at 5 HPPs will approximate 212 MW, in addition to 64 MW in photovoltaic installations.
The project is scheduled for 2024. ExPro Reference: The IBRD’s Board of Directors approved the $ 212 million financing package in Washington D.C. on June 30, 2021.