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Ensures energy supply to nearby households
“Energiya-1” is a private company operating small hydro power plants in Ukraine. Company’s ambition is to rehabilitate old, worn out equipment and bring hydropower of small rivers back to life.
To increase renewable energy generation, the company decided to reconstruct and increase the capacity of a 530 kW run-of-river mini hydro power plant in the western region of Ternopil.
The company addressed UKEEP for financing of this project.
The UKEEP team performed the analysis of the proposed technology, its potential for energy savings, profitability and financial-technical parameters.
The $5 million investment allowed the company to install two new 790 kW hydro turbines near the existing dam. The modernized HPP generates 6,500 MWh of electricity per year, yielding a positive environmental effect and bringing benefit to the country through diversification and increased reliability of energy supply. Electricity sales into the grid at a Green Tariff generates the annual income of $560,000 and allow repaying the investment in nine years. The project saves 7,000 tonnes of CO2 emissions per year.
This project demonstrates that investments in mini hydro power plants are beneficial for all stakeholders and profitable for the developers.
The EBRD and UKEEP support the sustainable financing and implementation of energy efficiency and renewable energy projects by the private sector. Together, the private, residential, and public sectors can make a change in the energy consumption patterns and environmental protection.
This project is supported by Austrian Federal Ministry of Finance, the European Union Neighbourhood Investment Facility (EU NIF), Swedish International Development Co-operation Agency (SIDA) and the EBRD Technical Cooperation Fund.