Terna’s collaboration with the Ukrainian Ukrhydroenergo for the joint development and implementation of large hydroelectric and pumped storage projects in Ukraine, with a total budget of approximately 1.5 billion euros, is entering a maturation phase.
Last Friday, in Kiev, an Executive Confidentiality Agreement was signed between the two parties by Terna’s Executive Director for International Development, Stathis Natsis, and Ukrhydroenergo’s CEO, Bohdan Sukhetskyi. The aforementioned document allows the Greek company access to critical technical, financial and operational data of projects of common interest, paving the way for their further technical maturation, evaluation and development.
The focus of the cooperation is, in the first phase, the Dniester pumped storage station with a capacity of 1,263 MW, as well as the development of a new 220 MW pumped storage station, projects located in Western Ukraine. At the same time, additional opportunities in hydroelectric and pumped storage projects are being examined, as part of the overall strategy to strengthen the country’s energy resilience.
The development acquires particular importance in light of the ongoing state of war in Ukraine, as it concerns critical energy infrastructure with a long-term role for the stability of the electricity system and the post-war reconstruction of the country.
Online presence
During the signing ceremony, Deputy Minister of Foreign Affairs, Haris Theocharis, made an intervention, via online presence, stressing the importance of energy cooperation between Greece and Ukraine and Greece’s long-standing support for Ukraine’s efforts to reconstruct and strengthen its critical infrastructure, at a particularly demanding time.
The two sides had signed a Memorandum of Understanding (MoU) in November 2025, which laid the groundwork for exploring joint investments in large-scale hydroelectric and pumped storage projects.
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