Energoatom seeks a UAH 750 million loan

energoatomNational nuclear energy company NNEGC Energoatom plans to take out a 750 million hryvnia loan from the State Export-Import Bank, the company's press service reported.

The loan is intended to be secured through a multicurrency system. A tender process is currently underway, which is being negotiated. The loan term will be one year, ending December 25, 2016.

It hasn't yet been announced how this money will be spent, but it will likely be allocated to modernizing Ukraine's power grid and decoupling it from thermal power plants in favor of nuclear power plants. The latter, it should be noted, are a viable alternative for replacement in the country's energy sector.

It should be noted that yesterday, President Petro Poroshenko opened an overhead power line that connected the Rivne Nuclear Power Plant with the Kyiv region's power grid.

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