Ukraine to cut loan funds for rehabilitation of Ukrenergo substations
Ukraine plans to reduce the amount of raising credit funds for implementing the project of rehabilitation of Ukrenergo substations.
The draft joint letter of the Cabinet of Ministers and KfW on reducing the amount of loans to finance this project is approved by government decree No. 1352-r dated December 16, 2015.
As reported, Ukraine and Germany on December 30, 2011 signed a loan agreement for EUR65.5 million to rehabilitate Ukrenergo substations (the project "Improving the efficiency of electricity transmission").
The total cost of the project is EUR80.4 million, of which EUR40.5 million will be financed by the German government, EUR25 million by KfW, the remaining funds will be provided by Ukraine.
It was planned within the project to rehabilitate five substations of the Dniprovska and Donbaska power systems of the united energy system of Ukraine, which have been in operation for a long time and are equipped with mostly outworn hardware. The purpose of the project is to improve the safety, reliability and efficiency of electricity transmission.
