China Development Bank pledges loan to Phase III of Reconstruction of 1,000 MW Kaniv Hydro Pumped Storage Plant Project in Ukraine
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Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Ukraine
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
In 2018, China Development Bank pledged an unknown loan amount for the reconstruction of the 1,000 MW Kaniv Hydro Pumped Storage Plant in Ukraine. The plant is receiving funding from not only CDB but also from the European Investment Bank. As of 2018, the project is still seeking other financiers. The plant completed phase I from 1997 to 2002 and phase II started in 2006. The project will be constructed by CMEC and CCEC who signed a memorandum of understanding in 2018. These companies will also work with the Turkish company Ozaltin Holding who signed an MOU in 2019. The current status of the plant is unknown.
Additional details
Number of official sources
5
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Ukraine [Government Agency]
Implementing agencies [Type]
China Civil Engineering Construction Corporation (CCECC) [State-owned Company]
China Machinery Engineering Corporation (CMEC) [State-owned Company]