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EBRD Invests in Modernising Electricity Grid in Ukraine

The European Bank for Reconstruction and Development (EBRD) announced a loan of up to EUR 149 million to Ukraine's national grid operator, Ukrenergo, for investment in the country's electricity transmission network.

Image: PixabayImage: Pixabay

Ukrenergo wants to use the money to modernise the transmission infrastructure required to synchronize with the European electricity grids. Among other things, up to 26 new transformers will be purchased and the automation and modernization of 12 high-voltage substations at important locations of the Ukrainian transmission grid will be carried out. The loan will also contribute to the annual reduction of CO2 emissions by 20,500 tonnes.

A growing share of renewable energies is currently putting the Ukrainian electricity grid to the test, making modernisation necessary. A flexible, smart grid is the key to the sustainable electricity sector of the future.

EBRD is the largest international financial investor in Ukraine. Since starting operations in the country in 1993, the Bank has provided a total commitment of almost EUR 13.6 billion through 432 projects in the country.

Windfair Staff
EBRD, Ukraine, electricity, grid, modernisation, synchronisation, Europe, bank, investment

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