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Ukrainian hydro project seeks funding

Having failed to secure World Bank funding for installing a new turbine, Dnistrovska hydroelectric power in the Ukraine will now issue shares to gain capital for the project.

The Bank refused to disburse US$240M for the project (60% of total costs) in December 1998. The power station management has since opted for issuing new shares by March, to be followed by an investment tender for project completion.

Construction of Dnistrovska began in 1985 but was suspended in 1990. When completed its seven generating units, each of 324MW, will provide a total capacity of 2268MW. The station is currently 40% complete.