KANIV PUMPED STORAGE PLANT

Promoter – Financial Intermediary

PJSC UKRHYDROENERGO

Location

• Ukraine

Description

Construction of a hydropower pumped storage plant in Central Ukraine with an installed capacity of 1,000 MW.

Objectives

The project will have multiple benefits, including substituting for energy currently generated inefficiently by intermittent operation of oil and gas-fired thermal power plants, thereby producing significant savings in fuel, carbon emissions and maintenance costs. The project will also improve the security of supply by providing 1 000 MWe of dispatchable reserve capacity as well as additional frequency and voltage control capability. This will help Ukraine stabilise its power system, contribute to security of supply in Ukraine and thus facilitate possible future interconnection of the Ukrainian system with the ENTSO-E Continental European power system.

Sector(s)

• Energy - Electricity, gas, steam and air conditioning supply

Proposed EIB finance (Approximate amount)

EUR 400 million

Total cost (Approximate amount)

EUR 1282 million

Environmental aspects

If located within the EU, the project would be classified as an Annex I project under Directive 2011/92/EU, requiring a full environmental impact assessment (EIA). EIA and public consultation procedures have been carried out in accordance with national legislation and received approval from the competent authority in March 2013. The EIA procedures and environmental management plan will be reviewed during appraisal in order to ensure that the project complies with the Bank's requirements.

Procurement

The Bank will require the promoter to ensure that implementation of the project will be carried out in accordance with the Bank's Guide to Procurement.

Status

Under appraisal - 19/06/2013