City News
The Kyiv City Council approved the guarantee agreement and the loan agreement with the EBRD
24
JUN

2022

The Kyiv City Council approved the guarantee agreement and the loan agreement with the EBRD

Today, the Kyiv City Council adopted a decision approving the guarantee agreement and the credit agreement. 74 deputies of all factions supported the corresponding decision.

The adoption of the decision is actually the beginning of the direct financing by the European Bank for Reconstruction and Development (EBRD) loan funds for Kyivteploenergo utility company in the amount of 140 million euros for the rehabilitation and improvement of the heat supply system in Kyiv. This is the final stage of forming a package of the necessary documentation for the start of project implementation. This was announced by Petro Panteleev, Deputy Chairman of the Kyiv City State Administration.

It should be noted that on September 2, 2021, a loan agreement was signed at CHP-5 between "Kyivteploenergo" and the EBRD on attracting loan funds for the modernization of the capital's energy complex. The agreement envisages attracting EUR 140 million in international financing for measures to modernize Kyiv's centralized heat supply. This will make it possible to introduce modern approaches and technologies into the capital's centralized heat supply system, which is one of the three largest in Europe.

As part of the planned projects, the installation of new cogeneration units and a thermal accumulator will be carried out at CHP-6. It is planned to install a new heat recovery unit (condensing economizer) at CHP-5, which will use the residual energy of flue gases (waste heat) to provide heating for buildings in the capital. Reconstruction of inefficient boiler houses will be carried out, which will also reduce greenhouse gas emissions.

Also, the project includes the installation of a new monitoring and dispatching system (SCADA). This is the only control and data collection system that will analyze and control the operation of the entire energy complex in real-time and monitor its production indicators.

"These extremely important technical projects are aimed at improving energy efficiency, saving natural gas, electricity and water. But the most important thing is that the implementation of large-scale modernization projects will improve the quality and reliability of services for Kyiv residents. I am convinced that this project will be an important step towards achieving energy security for our city and the country as a whole," said Petro Panteleev.

We would like to remind you that the Agreement and the loan agreement are executed within the framework of the Memorandum between the Kyiv municipality, the EBRD, the International Finance Corporation and the United States Agency for International Development (USAID) regarding cooperation in the field of rehabilitation and improvement of the City of Kyiv District Heating Network. This marked the beginning of international cooperation in the direction of the large-scale modernization of Kyiv's heating infrastructure.

The heating power complex of Kyiv, which is operated by the municipal enterprise "Kyivteploenergo", consists of more than 2.7 thousand km of heating networks, powerful CHP-5 and CHP-6, as well as almost 200 heat sources (heat supply stations and boiler houses).