Key Highlights:
Loan Agreement: NAEK "Energoatom" signed a loan agreement worth £181 million with a consortium of international banks, including Deutsche Bank AG and Barclays Bank PLC. The loan is guaranteed by the UK government through the export credit agency UKEF.
Purpose of the Loan: The loan is intended to finance a contract between Energoatom and the British company Urenco for the purchase of nuclear fuel. This includes the supply of enriched and natural uranium hexafluoride.
Strategic Cooperation: Ukrainian Minister of Energy, Herman Galushchenko, emphasized the strategic importance of this cooperation with the UK. Ukraine has ceased all nuclear-related engagements with Russia, enhancing its energy independence through long-term partnerships with British companies.
Contract Duration: The current agreements cover the supply of nuclear materials until 2035, with an option to extend the contract until 2043. This ensures a stable and long-term supply of nuclear fuel for Ukrainian power plants.
Background: In November 2023, Energoatom and Urenco signed a contract for the supply of enriched uranium products for Ukraine's nuclear power plants, solidifying their long-term cooperation.
Conclusion
The £181 million loan secured by Energoatom for purchasing nuclear fuel from Urenco highlights Ukraine's commitment to energy independence and strategic international partnerships. This long-term cooperation with the UK is crucial for the future development of Ukraine's nuclear industry.
