KIEV, Sept. 13 – The European Bank for Reconstruction and Development has decided to lend EUR 200 million to Ukrhydroenergo to finance the second phase of the renovation of the hydroelectric power plants of the Dnieper and Dniester cascades.

Another EUR 200 million is to be allocated to the project by the European Investment Bank.

Loan agreements are scheduled to be signed on September 29.

Earlier, the Energy and Coal Ministry announced that the renovation will prolong the term of hydroelectric power plants' exploitation by 30-40 years, and the capacity will expand by at least 155 megawatts, while electricity generation will grow by 213 gigawatts per hour. The total cost of the HPP renovation project is EUR 690 million.