A Ukrainian official says national energy company UkrEnergo expects to sign a World Bank funding agreement soon for transmission improvements and pumped storage development.
Deputy Fuel and Energy Minister Volodymyr Lushnikov said May 22 the agreement for a US$200 million credit is expected to be signed in late May or the first ten days of June.
Lushnikov said funds are to be spent for power network development including financing construction of the 1,050-MW Dniester (or Dnister) pumped-storage project, modernization of ten substations in eastern and central regions, and construction of a station in Sevastopol.
The World Bank indicated action on the Ukraine Power Transmission Project is expected in June.
Under the program, the Ukraine awarded a contract to Electricite de France to update a feasibility study of the Dniester pumped-storage project on the Dniester River. (HNN 2/22/07) The 233,818 euro (US$305,764) contract was to update a feasibility study of the first phase of the project over 12 weeks.
With funding from the World Bank, the Ukraine is carrying out a hydropower rehabilitation program and an energy sector reform and development program. Most recently, utility OJSC UkrHydroEnergo awarded contracts totaling US$19.3 million to France’s Alstom for excitation systems and governors for seven hydroelectric projects. (HNN 5/8/07)