United States provides $250 mln in political risk insurance for nuclear fuel storage facility project in Chornobyl

United States provides $250 mln in political risk insurance for nuclear fuel storage facility project in Chornobyl

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Ukrinform
U.S. Overseas Private Investment Corporation (OPIC) and Ukraine’s State Enterprise National Nuclear Energy Generation Company Energoatom have signed an agreement on $250 million in political risk insurance on the construction of the Central Spent Nuclear Fuel Storage Facility in Ukraine.

The solemn signing ceremony was held in Washington on Wednesday, and Ukrinform correspondent reports.

“This made it possible to reduce the credit rate for Ukraine, and investors from the U.S. stock market gave guarantees that they would have an opportunity for a long 20-year period not only to recover their funds but also make a stable profit," President of NNEGC Energoatom Yuri Nedashkovsky told Ukrinform following the signing of the agreement.

After the construction of the plant in the Chornobyl zone, Ukraine will not spend hundreds of millions of dollars annually on the shipment and storage of spent nuclear fuel to Russia. In addition, according to Nedashkovsky, Ukraine continues close cooperation with U.S. companies, and with the support of the U.S. Department of Energy, it has achieved significant success in other areas in the energy sector.

OPIC President Ray Washburne, in turn, said that the U.S. side is interested in Ukraine's achieving actual independence in the energy sphere.

Ambassador of Ukraine to the United States Valery Chaly, for his part, stressed that the assistance from the U.S. government and the construction of the plant give new opportunities for developing cooperation with the United States.

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