The collaboration between Greece's Terna and Ukraine's Ukrhydroenergo for major hydropower projects is entering a crucial phase as they prepare to develop a budget of approximately €1.5 billion.
The Greek company Terna and the Ukrainian company Ukrhydroenergo are progressing towards a significant collaboration aimed at the joint development and implementation of large hydropower and pumped storage projects in Ukraine, with a budget estimate of around €1.5 billion. Recently, an Executive Confidentiality Document was signed in Kyiv between the two companies. This document, signed by Terna’s Executive Director of International Development, Stathis Natsis, and Ukrhydroenergo’s CEO, Bohdan Sukhetskyi, grants Terna access to critical technical, financial, and operational data regarding projects of mutual interest, facilitating further technical maturation, evaluation, and development of these projects.
The initial focus of this cooperation will be on the Dniester pumped storage station which has a capacity of 1,263 MW, alongside the development of a new pumping station with a capacity of 220 MW, both located in Western Ukraine. Additionally, the collaboration is looking into further opportunities in hydropower, which underscores not only the potential for energy infrastructure development in Ukraine but also highlights the importance of international partnerships in fostering investment and technological exchange in the region. The projects could play a significant role in bolstering Ukraine’s energy resilience, especially in light of recent geopolitical challenges and energy shortages in the country.
