Pivdennyi Bank actively contributes to the Energy Sustainability of Ukraine

Pivdennyi Bank has funded the implementation of a large-scale energy project aimed at allowing the unified Ukrainian energy system to operate smoothly and reliably in compliance with ENTSO-E requirements.

This project involves the construction and connection of 17 gas-piston cogeneration units with a total rated capacity of 24 MW by the State Enterprise “Zakhidnadraservice” to the power networks in Western Ukraine. They will be used to maintain an automatic frequency restoration reserve, which is vital for the stable operation of the power networks.

“The first construction project has already been commissioned and its rated capacity is 4 MW. It was built within the framework of the last year’s auction for the ancillary services organised by “Ukrenergo”,” emphasised Yurii Fedak, Deputy Director for Development, Eco-Optima LLC.

The total amount of funding provided by Pivdennyi Bank to “Zakhidnadraservice Group” is €16.7 million.

“We consider funding energy projects as one of our strategic directions. We are proud to be able to assist our clients in rebuilding this country’s energy independence. We are grateful to our partners for their trust and the opportunities provided to us to contribute to such important projects for Ukraine,” said Andrii Bukin, Deputy Chairman of the Board of Directors, Pivdennyi Bank.

Background: “Zakhidnadraservice Group” was established in 2014. It is involved in geological surveys and exploration of hydrocarbons, drilling wells, and construction of pipelines in Ukraine. This group is a leading implementer of ambitious projects in the green energy sector in Western Ukraine.