Ukraine Will Invest $505 Million in Building the Kakhovka 2 Hydropower Station

hydropower station
Image Source: Jorge Láscar, CC BY 2.0

Last week, the Ministry of Energy and Coal Industry in Ukraine has issued a decree for the approval of the feasibility study to construct the Kakhovka 2 hydropower station.

This project is proposed to increase the power generated by renewable energy resources, lessen the dependence on fossil fuels, and improve power reliability and quality of the existing unified energy system in the country as a whole.

Currently, there is the 357mW Kakhovka run-of-river hydropower plant on the Dnieper River, which has been generating power for the country since 1956. Aside from this, other six hydropower projects are included in the Dnieper cascade, namely the 352mW Dnieper 1, 325mW Dniprodzerzhynsk, 624mW Kremenchuk, 586mW Kyiv, 444mW Kaniv, and the 828mW Dnieper 2. Upon the completion of this new project, there will be eight hydropower plants operating in the cascade all in all.

While the exact cost of this hydropower station was not disclosed, local reports state that it will cost around $505 million. The ministry also announced that funding will include credits granted under state guarantees to the hydropower utility PJSC UkrHydroEnergo and will be co-financed by the European Investment Bank and the European Bank for Reconstruction and Development.

The project is said to be completed in the next six years, though the ministry is yet to officially announce its construction start date.