Bank to invest in Ukraine, including 500-MW Kaniv pumped-storage

The European Bank for Reconstruction and Development (EBRD) has signed an agreement with the government of Ukraine to boost EBRD’s public sector investment in Ukraine, including construction of a new pumped-storage project.

EBRD said over three years funds will be dedicated to modernizing Ukraine’s transport, power, and municipal infrastructure and to improving energy efficiency. The bank expects to increase annual investments to between 200 million and 400 million euros (US$266 million and US$532 million) between 2007 and 2009.

Power sector investments would include construction of a 500-MW Kaniv pumped-storage project, high-voltage transmission lines, and a distribution project in the Crimea.

Ukraine national energy company UkrEnergo currently is recruiting consultants to help in procurement and project management for transmission and power sector improvements including construction of the 1,050-MW Dniester pumped-storage project. (HNN 5/31/07). Expressions of interest under that World Bank-funded initiative are due June 22.

Rehabilitation of the conventional 444-MW Kaniv hydroelectric project is included in another World Bank initiative to refurbish nine hydro projects. The most recent tender seeks bids by August 7 to supply medium voltage boards. (HNN 6/4/07)

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