Ministry of Finance and EBRD to support modernisation of Ukraine’s transmission network

7/30/19

Today Oksana Markarova, the Minister of Finance of Ukraine, and Matteo Patrone, EBRD Managing Director, Eastern Europe and Caucasus, have signed the guarantee agreement ("Modernisation of Power Transmission System" project) between Ukraine and the EBRD.

The agreement allows National Energy Company Ukrenergo to attract the loan of up to EUR 149 million for the project implementation.

“Yesterday we celebrated the remarkable event for the Ukrainian energy market and the success of the Ministry of Finance - the completion of Ukrenergo corporatisation. Today, we are making the first step in the company's new history that will allow us to take a number of effective steps to implement its development strategy. And we are glad that the support of our EBRD partners helps us to gradually move closer to European standards in this field, ”said Oksana Markarova.

The modernization of the energy system foresees, in particular, the replacement of outdated high-voltage substation equipment and the automation and upgrade of 12 high-voltage substations in key locations of the Ukrainian transmission network.

Also, the project will:


  • introduce the digital technologies with an automatic process control system at substations, which is the basis for the introduction of smart grids ("Smart Grid");
  • introduce the continuous remote control of substation equipment from single regional centers in real time.
Financial cooperation under the project "Modernization of Power Transmission System" will help to strengthen the energy infrastructure of the country.

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