World Bank lends US$200 million for Ukraine grid, pumped storage

The World Bank has approved a US$200 million loan to the Ukraine for a power transmission project that includes transmission improvements and pumped-storage hydropower development.

World Bank and Ukraine energy officials signed the loan agreement November 9 providing US$200 million toward the total US$238 million project. The Ukraine is to provide the remaining US$38 million.

The World Bank funds are being lent for 17 years with a grace period of four years. Following a recent reduction in loan charges, the lending rate will be a flat London Interbank Offering Rate (LIBOR). Front-end fee will be .25 percent with no commitment fee.

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. (HNN 5/31/07)

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 called for bids by January 10, 2008, to supply power meters for a metering system for hydroelectric plants. (HNN 11/8/07)

Consultant recruiting expected for 1,050-MW Dniester pumped-storage

The World Bank is considering providing another US$250 million to complete the first phase of the 1,050-MW Dniester pumped-storage project on the Dniester River. The bank scheduled a project concept review for December 3.

If the project is approved, the bank said consultants would be required. The objective is to complete the first phase of the pumped-storage project, including three pump-turbine generating units and connection to the grid.

The Ukraine previously awarded a contract to Electricite de France to update a feasibility study of Dniester pumped-storage. (HNN 2/22/07)

For information, contact Deputy Head A.I. Zamrikit, UkrHydroenergo, Vyshgorod 07300 Kyivska obl., Ukraine; (380) 44-9622006; Fax: (380) 44-2302044; E-mail: kanc@ges.kv.energy.gov.ua.

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