Ukrenergo awaits decision to raise electricity exports to Europe

Ukrenergo awaits decision to raise electricity exports to Europe

Ukrenergo National Power Company expects that the European Network of Transmission System Operators (ENTSO-E) will endorse a decision to increase Ukraine’s electricity export capacities from September 2, 2022.

The relevant statement was made by Ukrenergo National Power Company Board Chairman Volodymyr Kudrytskyi during a discussion regarding the August economic survey, an Ukrinform correspondent reports.

According to Kudrytskyi, Ukrenergo is planning to generate UAH 2 billion from the sale of access to interstate interconnections.

“We are planning to expand such interconnections from 250 megawatts to larger values. We expect the ENTSO-E to make a decision in this regard on September 2,” Kudrytskyi told.

In addition, Ukrenergo intends to accumulate about EUR 200 million in credit support from Western partners. The company has already raised EUR 50 million worth of loan funds from the European Bank for Reconstruction and Development (EBRD). This week Ukrenergo is planning to sign another loan agreement with the EBRD, totaling EUR 97 million. The company is also holding talks with the European Investment Bank (EIB) regarding a tranche of EUR 50 million.


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