OREANDA-NEWS. November 09, 2010. Russia has agreed to provide credit for both the Russian and Ukrainian supplies for construction of the 3rd and the 4th power units of Khmelnitskaya NPP.

This information was provided by President of state enterprise National Nuclear Energy Generating Company ENERGOATOM (NNEGC ENERGOATOM) Yury Nedashkovsky who mentioned that supplied from third countries should be co-financed by the Ukraine, or it should be export financing of the countries supplying products.

According to Nedashkovsky, now the tentative financing scheme remains according to which Russia provides credit for 85% of the project, the Ukraine — 15%: “Now we’re completing separation of the Russian and the Ukrainian parties responsibilities, preparing all specifications: what equipment we’re going to get from the Russian Federation, the Ukraine, third countries”.

At present the company channels funds in the amount of USD 30 mln per year for the project implementation. These funds are spent on repair works on separate local projects. Energoatom plans to conclude a contract for the reactor shell supply with the Russian party before the end of the year. It’s the most expensive part. Rosatom has announced about the possible beginning of Khmelnitskaya NPP 3rd and 4th power units completion at the end of 2010 — beginning of 2011.

At the beginning of October Sberbank of Russia declared determination to provide sovereign credit to the Ukraine in the amount of USD 1 bln for construction of the 3rd and the 4th power unit of Khmelnitskaya NPP. Upon approval of the project, when the total cost of work is clear, negotiations on the second part of financing for the entire construction will start. The Ukraine shall pay at least 15% of the total cost of construction. There is no money for this yet. That’s why Energoatom applied to National Electricity Regulation Commission with the request to increase the cost of electricity generated by the NPP to invest additional revenue to the units construction. According to preliminary estimates, the cost of Khmelnitskaya NPP expansion is equal to USD 4–5 bln.