European Bank to provide Ukraine with $149 million loan to modernize grid
The Cabinet of Ministers of Ukraine confirmed that the European Bank for Reconstruction and Development (EBRD) will provide a loan for the modernization of the electricity grid.
The EBRD will allocate $149 million of euro for implementation of the Program of modernization of the electricity grid. Ukrenergo will implement the program.
It is expected that the project will increase the efficiency and reliability of the electricity grid in the Western, Northern, Southern and Central regions of the country. Moreover, the project is one of the components of the integration of the Ukrainian energy system into ENTSO-E.
“The project provides the replacement of the transformer equipment and reconstruction of 12 substations with the use of the automatized control systems of the technological processes at the substations. The complexity of measures provided by the project will allow for the management of the substation equipment from the regional centers in real time without the constant presence of the operational staff. The implementation of digital technologies with automatic control system is the basis for the implementation of Smart Grid,” the ministry reported.
The IMF confirmed their readiness to travel to Kyiv for the continuation of the negotiations after snap parliamentary elections as soon as the new government defines the priority of its policy.
Source: 112 UA