The construction works for the transmission line would cost up to €400m, of which €300m was being secured by the European Bank for Reconstruction and Development and the remaining by NPC Ukrenergo, Ukraine’s state company.
The new power line, which is expected to complete in 2014, will be the fourth in the Ukraine as well as Europe with such capacity.
Once completed, it is likely to enhance energy supply to central and southern Ukraine and help reduce carbon dioxide emissions as well as dependence on foreign natural gas.
The new transmission line will also help the nation utilize the underutilized capacity of Khmelnytska and Rivnenska power plants, which could produce a total of 5,000MW of electricity.
An estimate by the Ukrainian experts show that the annual cost saving introduced by the power line connecting central and western regions will reach UAH900m ($111m).
Last year, NPC Ukrenergo and the European Investment Bank had signed a €175m agreement, which stipulates the construction of a new power line on Ukraine’s 700MW Zaporizhzhia nuclear power station.
