EU to allocate 45 million euro for growth of Ukrainian power industry
The Cabinet of Ministers of Ukraine has indorsed the contract on receiving the non-repayable targeted aid in the amount of 45 million euro.
These funds will be directed to implement the reforms in power industry, in particular, Energy strategy of Ukraine. According to Press Office of the Ukrainian government, as per the present currency rate this sum totals to 360 million grivnas.
The bulk of the tranche will be directed to stabilize the power industry of Ukraine. Some projects aimed to reduce emissions will be funded as well. The exact terms of receipt of the funds have not been scheduled yet.
It should be noted that this decision of EU has been made on the results of evaluation of the rate of the alternative energy growth in Ukraine. Currently, Ukraine is holding leading positions in implementing such technologies as photo voltaic and wind power. According to the rate dynamics of setting up wind turbines, Ukraine is among global leaders, which has contributed to stimulation of Ukrainian power industry by EU.
These funds won’t be the first ones allocated by EU to back Ukrainian power industry. In 2007 the relevant EU institutions assigned 87 million euro for similar purposes. Financing package was carried out by several tranches, the last of which in the amount of 28 million euro was received by the relevant Ministry of Ukraine in 2012.
Thus, matter-of-factly, energy community estimates positively not only dynamics of the reforms in Ukrainian power industry, but also is ready to back it in future.
EU to allocate 45 million euro for growth of Ukrainian power industry
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