GE Vernova Signs Agreement to Build, Restore Ukrainian Hydropower Facilities

GE Vernova’s Hydro Power business has announced the signing of a memorandum of collaboration (MoC) with Ukrainian hydropower operator, Ukrhydroenergo. The MoC is structured as a two-year agreement for both companies to identify “build and restore” opportunities for Ukraine’s hydropower facilities. The MoC is targeting a new pumped storage plant in Kaniv (1 GW), the supply of 3 units of 324 MW to the Dniester power plant, and the reconstruction of the Kakhovka power plant (335 MW)—partially damaged during the war in Ukraine. A framework for future contractual agreements has been outlined in this MoC.

“GE Vernova’s collaboration with Ukrhydroenergo will expand upon our efforts to assist in rebuilding Ukraine’s critical energy infrastructure to provide power and heating to civilians as fast as possible,” said Roger Martella, Vice President of GE Vernova Government Affairs and Sustainability.“It also allows for continued partnership on a long-term reconstruction plan focused on energy security and preparing for a low-carbon future.”

Additionally, GE Vernova will assist Ukrhydroenergo and Ukraine with maintaining and rebuilding damaged portions of the country’s electrical grid.

“We are proud of this collaboration we are initiating with Ukrhydroenergo. These facilities are critical to powering Ukrainian houses, schools, hospitals and businesses with clean and reliable electricity,” said Frederic Ribieras, CEO of GE Vernova’s Hydro Power business.

Ihor Syrota, the Director General of Ukrhydroenergo, added: “We are pleased to see GE as our partner for the restoration of the Kakhovka Hydro Power Plant and other facilities that were damaged. We expect a dynamic level of cooperation, leading to a clear plan for the implementation of works by the end of the year.”