CNEEC signs MoU for $500 million Dnistrovska hydroelectric pumped storage plant

$500K USD

Funder	Unspecified Chinese Government Institution
Recipient Organization	Ukrhydroenergo
Country	Ukraine
Start Date	Jan 01, 2018
End Date	Aug 12, 2033
Duration	5,702 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66908`

Grant Description

CNEEC signs MoU for $500 million Dnistrovska hydroelectric pumped storage plant On November 8, 2018, a Memorandum of Understanding (MoU) was signed between China National Electric Engineering Company (CNEEC) and Ukrhydroenergo for the expansion project of the Dnistrovska hydroelectric pumped storage plant in Ukraine.

According to Interfax Ukraine and Steel Guru, the project is to be financed through a loan covering the entirety of the reported cost, $500 million USD, and the interest would not exceed 4.5% per annum. However, it is unclear whether a formal loan agreement was ever signed.

📚 Sources & References

UKRAINE: CHINA TO LEND $500 MILLION TO BUILD DNISTROVSKA HYDROELECTRIC PUMPED STORAGE PLANT
Ukraine secures $500-mln Chinese loan to build Dnistrovska hydropower plant
Ukraine arranges attraction of $500 mln loan in China to build Dnistrovska hydroelectric pumped storage plant
Ukraine arranges attraction of USD 500 million loan in China
CNEEC Signs a Memorandum of Understanding on the Expansion Project of the Pumped Storage Power Plant in Ukraine Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.