Ukrhydroenergo and the European Bank for Reconstruction and Development (EBRD) will continue their collaboration in 2025, following significant progress in their joint efforts in 2024. The EBRD reported record investments of €2.4 billion for Ukraine last year, which included a €200 million financing package for Ukrhydroenergo. This package comprises a €100 million loan from the EBRD and a €100 million concessional loan from the Italian government, aimed at addressing the impact of ongoing shelling and attacks on Ukraine’s energy infrastructure.

The financing stems from a loan agreement signed on 17 February 2024 between Ukrhydroenergo and the EBRD to support the Emergency Rehabilitation of Hydropower Plants project. The deal also involves cooperation with Italy’s Ministry of Economy and Finance, represented by Cassa Depositi e Prestiti S.p.A. A Guarantee Agreement was signed between the governments of Ukraine and Italy and the EBRD.

The funding will enable Ukrhydroenergo to purchase critical equipment for the Dnipro and Seredniodniprovska hydroelectric power plants and ensure the company’s financial stability.

In November 2024, Italy reaffirmed its support at the “Italy Supports Made in Ukraine” business forum in Rome, pledging to provide €200 million in collaboration with the EBRD.

“Ukrhydroenergo is grateful to the European Bank for Reconstruction and Development for its long-term cooperation and support since the beginning of the full-scale invasion, in particular in the restoration of generating capacities,” the company stated. “This project will help us achieve our strategic goals of developing a sustainable and efficient energy system in Ukraine.”

The partnership highlights ongoing international efforts to stabilise Ukraine’s energy sector amidst continued challenges.