According to the Memorandum of Understanding between Governments of the G7 Countries and the Commission of the European Communities and the Government of Ukraine on the Closure of the Chernobyl NPP K2R4 safety upgrades have been implemented according to the special Modernization Programme funded out of the international loans of the EC/EBRD. The Guarantee Agreements with the EBRD and the Euratom on financing of safety upgrades of K2R4 were ratified by Laws of Ukraine No.2817-IV and No. 2818-IV dd. September 7, 2005, respectively.
For the time of effectiveness of the Ukrainian NPP Modernisation Programme all scheduled measures (80 measures for K2 and 81 for R4, respectively) have been implemented at both power units in compliance with the Loan Agreements executed between NNEGC Energoatom and EC/EBRD on July 29,2004. In 2010 State Nuclear Regulatory Committee together with experts from RISKAUDIT carried out audit of K2R4 power units to assess if all the measures of the Modernisation Programme had been implemented in full. The assessment by the Lenders’ experts (international expert organization RISKAUDIT) confirmed that the measures of K2R4 Modernisation Programme had been successfully completed. The Final Report on implementation of the Programme for both power units was concurred by the State Nuclear Regulatory Committee of Ukraine by its letter No.15-13/5579 dd. September 3, 2010.
According to the applicable legislation of Ukraine it was required to carry out a procedure of the project finalisation on the state level, i.e. the Cabinet of Ministers of Ukraine had to adopt a Statement on Approval of the Final Report on implementation of the investment project. The joint effort by experts for NNEGC “Energoatom”, Ministry of Energy and Coal Industry and Ministry of Finance have resulted in approval by the Cabinet of Ministers of Ukraine of the Final Report on the results of the K2R4 post-start-up modernization project implemented together with the EBRD and K2R4 post-start-up safety upgrades project implemented together with Euratom. The Cabinet of Ministers of Ukraine passed respective resolution No. 622 on August 31.
Thus, completion of the project has been officially confirmed both by the international financial institutions and the Cabinet of Ministers of Ukraine.