Export Development Canada (EDC) and Ukrhydroenergo (UHE) have signed a Memorandum of Cooperation to advance collaboration on Ukrainian hydropower projects and support the recovery and modernization of Ukraine’s energy sector.
The Memorandum was signed in the presence of Denys Shmyhal, Ukraine’s Minister of Energy, Maria Bishko, UHE Deputy Director General for Investment Activities and International Fundraising, and Alison Nankivell, President and CEO of EDC. The agreement establishes a basis for EDC and UHE to identify projects where Canadian financing, technologies, equipment and services could contribute to Ukraine’s hydropower needs.
Through the cooperation, Canadian companies may have opportunities to participate in UHE projects by supplying equipment, technological solutions and services required for the restoration and modernization of hydropower facilities. EDC may support eligible projects using its available financial solutions and international business expertise.
The next step will be for EDC and UHE to identify potential projects, explore opportunities for Canadian participation and jointly develop possible implementation models.
Quotes
“Rebuilding Ukraine's energy sector will take strong partnerships. This cooperation puts Canadian technology, financing and expertise to work, supporting Ukraine's hydropower recovery while opening the door for Canadian companies to be part of its long-term reconstruction.”
The Honourable Maninder Sidhu, Canada’s Minister of International Trade
“Ukraine’s energy recovery will require strong international partnerships, innovative technologies and access to derisking solutions and capital. This agreement creates an opportunity for Ukrhydroenergo and EDC to explore how Canadian expertise can support potential hydropower projects, while opening doors for Canadian companies to contribute to Ukraine’s reconstruction and long-term energy resilience.”
Alison Nankivell, President and CEO, EDC
“We have to start preparing now the solutions that will be required for the large-scale recovery of Ukraine’s energy sector. This involves not only rebuilding what has been destroyed, but also modernizing and developing our facilities. This requires technology, equipment, financing and strong international partners. Cooperation with EDC gives us an opportunity to bring these elements together and begin working on specific projects.”
Bogdan Sukhetskyi, Director General, Ukrhydroenergo
