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You're reading: EU to issue EUR 2.8 million loan to develop Energy Efficiency Agency

The European Union is planning to issue a EUR 2.781 million loan to improve the institutional capacity of the State Agency on Energy Efficiency and Energy Conservation of Ukraine, according to the Web site of the Ukrainian EU representative.

The term of the project implementation is three years, with the possibility of prolongation.

One of the project’s objectives is to encourage the appropriate use of the funds allocated by the EU to support the Energy Strategy in the sphere of energy saving and renewable energy sources.

As reported, Ukraine will build a 110 kV power grids and grid nodes to connect renewable energy facilities to the Reni (Odesa region) and Zaliznychne (Crimea) substations using funds provided by the European Union as a part of support of Ukraine’s Energy Strategy in the energy efficiency area.

In addition, the EU funds will be used to adapt Ukrainian laws to European standards, to conduct research into the production of energy resources from renewable sources, and to create a monitoring system for "green" generation facilities.

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