Investing In The Progress

Font size


Affordable electric power is crucial to the economic growth of any modern country in the world. SE NNEGC Energoatom (“Energoatom”) as the largest electricity generator in Ukraine serves as Guarantor of economic stability and sustainable development of our country. Therefore, promoting and developing the nuclear power as a key part of the national electric power sector do meet the strategic interests of Ukraine both in terms of sustainable development of the country and reinforcement of its energy security. The stable operation of the nuclear energy complex requires careful planning of long-term investment projects and adequate financing. Energoatom has been investing into development of production, power unit life-time extension, continuous safety  upgrading, and mitigation of environmental impact.  

Financing for the Company’ s Investment Programs in 2015-2019

                                                              billion UAH (incl, VAT)


Capital Investments

Actually Funded

Capital Investments


















Priority focus areas for the Company’s investments include:

  • support for the safe and reliable operation of NPPs and extension of power unit life time;
  • creation of an enabling environment for the energy self-reliance of Ukraine;
  • electricity generation increase through the more effective use of existing capacities;
  • build-up of the Company’s export capabilities;

A final goal of each and every projects of the Company is to improve the competitiveness of the national economy of Ukraine.

Complex (Consolidated) Safety Upgrade Program of Power Units of Nuclear Power Plants in Ukraine

NNEGC Energoatom launched and has been implementing the Complex (Consolidated) Safety Upgrade Program of Power Units of  NPPs in Ukraine (the “CCSUP”) with a view to  continuously enhancing the nuclear safety, maintaining effective and reliable operations of energy sector, and bringing the safety of Ukrainian NPP up to the level of the best European standards and nuclear safety and environmental requirements.

The CCSUP was developed by Energoatom taking into account recommendations of the EC-IAEA-Ukraine Joint Project regarding the safety improvements and implementation of post - Fukushima actions at power units of NPPs. The Program was approved by the Resolution of the Cabinet of Ministers of Ukraine on December 7, 2011. Then, pursuant to Resolution No. 390 of the Cabinet of Ministers of Ukraine, dated as of 08.05.2020, its scheduled completion term was extended till the year 2023.

For completing the CCSUP project, Energoatom attracted the largest loan facility ever provided to the Ukrainian energy sector by the European institutions, namely, the European Bank for Reconstruction and Development (the “EBRD”) and the European Atomic Energy Community (“Euratom”), totaling EUR 600 million.



Improving the operational safety and reliability of NPP power units. Reducing the risks of accidents emerging during natural disasters or other extreme situations. Enhancing the effectiveness of design basis and beyond-design basis accident management at NPPs and mitigation of their consequences.



In 2018, Resolution No. 924 of the Cabinet of Ministers of Ukraine revised the total volume of financing for the CCSUP, stating that the indicative volume of financing for the Program shall consist of allocations from internal funds of the state-owned enterprise NNEGC Energoatom in the total amount of UAH 26.893 billion (without VAT) and proceeds from the EBRD and Euratom loan in the amount of EUR 600 million”.


Major Activities

Equipment shall be replaced with the state-of-the-art equipment which will be safer, more advanced and reliable than the existing one. As of the 1st of January 2019, 931 out of 1295 measures scheduled for implementation under the CCSUP, were completed.



Improved safety level of Ukrainian NPP power units that will meet the highest European standards.


Ukraine-European Union Energy Bridge

The Ukraine-European Energy Bridge Project is designed to create an investment attractive environment, to increase the transmission capacity of cross-border electric networks and meet the objectives of the EU Third Energy Package. In 2015, Energoatom together with NPC Ukrenergo and Polenergia International signed a Memorandum on implementation of the Ukraine-European Union Energy Bridge Project. The Ukraine-EU Energy Bridge is essentially based on the Project launched by the European Bank for Reconstruction and Development with the aim of modernizing Ukrainian electricity transmission networks for their further synchronization with the European system ENTSO-E.

Possessing capabilities for connection to the EU networks and its electricity market, Ukraine  can become a reliable exporter of electricity for Europe.  

Under the Project, Khmelnitskiy Unit 2 is going to be disconnected from the Unified Energy System of Ukraine (UESU) (currently, some consideration is being given to the feasibility of disconnecting two power units) and then connected to the European system ENTSO-E to allow exporting the electricity in two directions: to Rzeszów (Poland) through the revitalized 750 kV OTL, and to Albertirsa substation (Hungary) through the operational OTL after modernization of Zakhidnoukrainska substation.



Creating the conditions enabling UESU to become integrated to the European System ENTSO-E. Improving Ukraine’s capabilities of exporting the electricity to EU countries via the extended “Burshtyn Power Island” (and so adding another 1000 MW of nuclear generated electricity to the existing export capabilities).



The estimated cost of the scope of works to be performed by Energoatom on the Ukrainian part, is UAH 1.358 billion. In order to implement the Project, Energoatom has been using its internal funds and funds provided by a private partner who was selected upon results of the international tender.


Major Activities

Rehabilitation of the 750 kV outdoor switchgear;  modernization of KhNPP Unit 2 systems and components; rehabilitation of in-house power supply circuit of KhNPP Unit 2.



Energoatom will become a player in the EU electricity market, once UESU and ENTSO-E have been integrated creating a mechanism for financial security of the development of nuclear power generating capacities in Ukraine.


Construction of the Central Spent Fuel Storage Facility

Construction of a Central Storage Facility for spent fuel of Ukrainian VVER - type NPPs is one of the most important projects of Energoatom, which is essential not only to nuclear generation but also to Ukraine as a country at large.

When completed, the Project will significantly strengthen the energy security and improve energy self-reliance of Ukraine. Energoatom is the only company in the world, which, while operating Russian-designed VVER - reactors, was able to diversify the sources of fresh fuel supplies for Ukrainian NPPs. 746 Westinghouse fuel assemblies were in operation as at 1 January 2020, loaded into cores of six power units in Ukraine. Once fully operational, the CSFSF will help support the policies of supply diversification and resolve problems with storage of spent fuel from Ukrainian NPPs, having regard to various sources of fuel supplies. The construction started in 2017, and civil work structures of the facility as at the beginning of 2020 were 97% complete.

The U.S.- based Company Holtec International whose technology is used in building the facility, is a partner of Energoatom under this Central Spent Fuel Storage Facility Project.

On 21 December 2017, the Ministry of Finance of Ukraine, NNEGC Energoatom, the Overseas Private Investment Corporation (OPIC, USA) and Central Storage Safety Project Trust signed agreements to arrange for the credit financing in the amount of USD 250 million for construction of the Central Spent Fuel Storage Facility in Ukraine. On 14 February 2018, in Washington D.C., NNEGC Energoatom and Bank of America Merrill Lynch as Lead Arranger of bond placement in US capital markets, approved final terms and conditions of the financing for construction of the CSFSF in Ukraine, totaling USD 250 million.



The CSFSF will provide domestic capabilities for safe long-term storage of spent fuel in Ukraine. Ukraine will fulfil its international commitments to secure the safe management of spent fuel resulted from operation of Ukrainian NPPs.



The total estimated cost of the CSFSF construction is UAH 37.217 billion (including the estimated cost of the 1st start-up complex amounting to UAH 4.761 billion). The source of financing: the Company’ s internal funds and external funds obtained by the Company.


Major Activities

Construction of the CSFSF site; manufacturing of equipment and special casks for spent fuel using Holtec International’ s technology. A series of preparatory works are now underway at three NPP sites in Ukraine to enable the transportation of spent fuel to the CSFSF. Commissioning of the first start-up complex of the CSFSF has been scheduled for late 2020. Since 2021, no spent fuel will be shipped from Rivne, Khmelnitskiy ans South Ukraine NPPs for re-processioning and storage at the specialized enterprises in the Russian Federation.



When commissioned, the CSFSF will help Ukraine to avoid significant annual costs. As of today,  the volume of spent fuel, expressed in monetary terms, which is annually dispatched to Russia’s radiochemical reprocessing facilities, amounts to approximately USD 200 million. Construction and operation of the CSFSF will result in creating new jobs for the local public and the personnel resigning from Chornobyl NPP, and also will attract more investments  to the social sector in Ivankiv and Polissya districts, and the town of Slavutych in Kyiv region.


Introduction of Complex Radioactive Waste Treatment Lines

Over the recent years, several projects have been implemented for Ukrainian NPPs with a view to introducing the advanced technologies of radioactive waste (RAW) treatment. However, despite an overall trend towards continuous reduction in radioactive waste generation,  efforts on its further minimisation have been never stopped. One of the major measures focused on improving the RAW management system for NPPs involves introduction of the complexes for radioactive waste treatment (RAWTC) using the advanced equipment and proven modern technologies, such as, radioactive waste incineration, super-compaction and decontamination. RAW treatment technologies have been selected taking into account the best international practices, IAEA’ s and EC’ s recommendations.

Once introduced at each sites of NPPs in operation, RAWTC will help optimize the deployment of waste storage facilities, significantly decrease accumulated waste volumes  and upgrade the safety level in RAW management.

In 2019, a radioactive waste complex was commissioned at Rivne NPP. That facility became the second RAWTC after the complex put into operation at ZNPP, which was designed to significantly enhance the RAW management at NPP in Ukraine. Also, in the same year, the Company put into operation the equipment for radioactive waste data sheet production (pasportyzator) as a part of Phase 1 of the Project on construction of a solid radioactive waste treatment complex (SRAWTC) for SUNPP.



Implementation of technologies for radioactive waste treatment: conditioning of radioactive waste to permit its transfer for further long-term storage or disposal.



The total estimated cost of construction is UAH 3.157 billion including EUR 21.4 million   provided by the EU-sponsored Technical Assistance Program Tacis. As of 1 January  2019, works were completed and equipment was bought, totally valued at UAH 1 billion, and the assistance provided through the Tacis program was fully assimilated. 


Major activities

RAW treatment complexes were put into commercial operation at Zaporizhzhya and Rivne NPPs. The RAWTC Construction Project has been proceeding forward at KhNPP, and the  RAWTC Construction Project for SUNPP is being adjusted taking into account the lessons learnt.



Once fully introduced at Ukrainian NPPs, the complex radioactive waste treatment lines will allow significantly reducing the volumes of accumulated radioactive waste.


Solar Power Plant “Sonechko-1”  

The core business and specifics of its activities allow NNEGC Energoatom to significantly contribute to developing two branches of the renewable energy sector, such as: hydro power and solar energy. The company has got, within its structure, Olexandrivska HEPP and Tashlyk HPSPP. Over the recent years, the solar electricity market in Ukraine has been demonstrating the record-beating growth rate, according to DerzhEnergoEffectyvnist, between 2015 and 2019 the overall capacity of solar power plants (SPPs) increased almost eight-fold in Ukraine: from 432 MW to 3420 MW.  Such rise became possible due to a very attractive “green” tariff rate, and the state-owned Energoatom is fully capable to earn money for the state by operating in that market. At the same time, constructing SPPs on sites of nuclear power plants would improve the operational safety of NPP power units since the solar power plants, when built, will serve as additional stand-by sources of emergency power supply for power units.

The pilot project launched by NNEGC Energoatom in the solar energy field provides for constructing a solar power plant with a total capacity of 13.2 MW in the area of a cooling pond of Zaporizhzhya NPP.  Two similar SPPs are expected to be built on both SUNPP and KhNPP sites.



Construction of a solar power plant with a total capacity of 13.2 MW in the area of a cooling pond of SS Zaporizhzhya NPP.



Average annual electricity production in the Unified Energy System of Ukraine will be  increased by 16,705 MW*h/year.



The total estimated cost of the Project is UAH 399 million. Such funding is expected to be obtained from external crediting sources.


Major Activities

Installation of 48, 960 solar modules (rated 270 W each) and 340 inverters (40 kW each). Construction of a 35/6 kV substation (two 10 MVA transformers), and development of the required infrastructure.



Completion of the Tashlyk Hydroelectric Pumped Storage Power Plant

The Tashlyk Hydroelectric Pumped Storage Power Plant (the THPSPP) is a component of the South Ukraine Power Complex and serves as a kind of water accumulator. Water in the THPSPP upper reservoir is readily available at any time to be used for electricity production during peak consumption periods. The shortfall in flexible capacities available for use within the Unified Energy System of Ukraine makes this project so pressing and essential to Ukraine.



Operation of the THPSPP at full design capacity (as of today, only 2 out of 6 storage pumps, stipulated by the original design, are in cooperation).



The adjusted project cost is UAH 14.254 billion (including the estimated cost of the second construction stage, totalling UAH 3.832 billion). Sources of funding: internal funds of the Company and external funds provided by international financial institutions.


Major Activities

  • Year 2020: a positive Conclusion on the Environmental Impact Assessment shall be obtained. Equipment procurement procedures for storage pump No. 3 shall be completed and installation works shall start.
  • Year 2021: storage pump No.3 with a design capacity of 131 MW shall be put into pilot operation.
  • Year 2022: civil works shall be finalized, and a cutoff dam shall be put into service on Tashlyk water reservoir, a cooling pond of  SUNPP.
  • Years 2023-2024: storage pumps No. 4, 5 and 6 shall be de-preserved and put into  operation, and the capacity of THPSPP shall be raised to its design level of 906 MW.



Covering the shortfall in highly flexible generating capacities and creating a reserve of stand-by capacities for electricity production during peak consumption. Solving the problem with water supplies in Mykolayiv region.


Modernization of the Service Water Supply System at South Ukraine NPP

Once implemented, the Project on modernization of the service water supply system for SUNPP will allow avoiding losses in electricity production, which are experienced by SUNPP because of high temperature of circulating water, and lifting the restrictions imposed on the plant output due to inadequate cooling capacity of Tashlyk water reservoir during hot summer seasons. As a result, the power plant will be able to increase its annual electricity production by 3-15%.



Lifting the restrictions imposed on SUNPP electricity production in summer due to high temperature of water in cooling systems.



Internal funds of the Company.


Major Activities

There is some planning to implement a series of inter-related projects, i.e., construction of five spay ponds; installation of an afflux bank in the water area of Tashlyk water reservoir; construction of a complex of facilities meant for filling and making up the cooling pond of SUNPP. The first stage and the second stage are expected to be put into operation in late 2020 and in 2021, respectively.



Average annual electricity production will be increased by 700 million kW*h without construction of new generating capacities.


Rehabilitation of 750 kV Outdoor Switchgear at Zaporizhzhya NPP

The Project shall improve the operational reliability of the southern part of UESU, lift restrictions imposed on power output of Zaporizhzhya NPP, and shall increase the transmission capacity of intersections in the southern part of  UESU.



Lifting the restrictions imposed on power output of Zaporizhzhya NPP that will secure reliable electricity supplies for the southern Ukraine.



The estimated cost of construction is UAH 894 million. Source of funding: internal funds of the Company.


Major Activities

The operating 750 kV outdoor switchgear shall be extended to permit connection of the 750 kV overhead transmission line (OTL) “Zaporizhzhya NPP – Kakhovska”. In 2020, after work completion on “Zaporizhzhya NPP - Kakhovska” OTL (falling into the area of responsibility of NPC Ukrenergo), the 750 kV outdoor switchgear of SS ZNPP will be put into commercial operation.



It is expected that with fully operational renovated 750 kV outdoor switchgear, 841 million kW*h will be added to the annual electricity output.


Construction of a Building of the Technical Centre for Automated Remote Metal Inspection Equipment at Rivne NPP

The purpose of the Technical Centre for Automated Remote Metal Inspection Equipment is to provide the maintenance and servicing of electronic and mechanical equipment for automated remote metal inspection systems, to train the personnel in servicing of systems and processing of the data acquired.



A new advanced Technical Centre shall become the only facility that will accommodate and concentrate all high-tech and unique systems for remote metal inspection at RNPP.



The estimated construction cost is UAH 177 million. Source of funding: the Company’s internal funds.


Major Activities

Construction of an administration & amenity building and an industrial building. Construction of process piping racks, an open storage yard for equipment, and a motor road.



Concentration of all large-size maintenance equipment meant for RNPP Units 1 and 2 in one single location. Creation of relevant working environment for the personnel, sites for storage and servicing of remote inspection and maintenance systems, qualification of new technologies.