Energoatom receives €100 million loan for NPP safety improvement program

NNEGC Energoatom reported that on July 23, 2020, they received 100 million euros from the European Atomic Energy Community for the implementation of the Comprehensive Safety Improvement Program of Ukrainian NPP power units, approved by a government decision back in 2011.

This is the third tranche under the loan agreement signed with Euratom back in 2013.

A €300 million loan agreement for this comprehensive program came into effect at the end of May 2015. Taking into account the agreement with the second lender of the KPPB - the European Bank for Reconstruction and Development (EBRD) – which entered into force in December 2014, the total loan amount was 600 million euros, and this is the largest loan from European institutions in the history of the Ukrainian energy sector involved in the development of the industry.

The Comprehensive Safety Improvement Program of Ukrainian NPP power units was developed by Energoatom taking into account stress tests carried out at Ukrainian nuclear power plants after the accident at the Japanese Fukushima plant (“post-Fukushima measures”), and sets the scope of measures to be implemented at all power units of domestic nuclear power plants in order to bring their safety level up to international standards.

Expenditures for the implementation of the Program are covered by the tariff, that is, funds that NNEGC Energoatom receives from the sale of electricity generated by nuclear power plants and loans provided by the EBRD and Euratom.

Earlier it was reported that Energoatom had started exporting electricity to Belarus.

Tags: The Cabinet of Ministers, NPP, EBRD, NNEGC "Energoatom", legislation, EU, ETL, electricity market, foreign affairs, debt, export, investments, price, infrastructure, energy sector, electricity transmission, transmission system operator, Belarus, population, nuclear power plant, power unit, generation, Buslavets, The Ministry of Energy, economy, market, power grid, electricity consumption, housing and public utilities

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