Energoatom and Urenco continue cooperation in the field of nuclear fuel
On July 17, 2024, a loan agreement was concluded between JSC “NNEGC “Energoatom” and the consortium of global banks (composed of Deutsche Bank AG and Barclays Bank PLC) regarding the receipt of funds in the amount of up to 181 million pounds.
Credit funds, according to the contract between Energoatom and Urenco, will be used to finance the supply of nuclear materials - – enriched and natural uranium hexafluoride.
The loan will be long-term – for 5 years. The assurance will be provided by the UK government through the export credit agency UK Export Finance (UKEF). Funding will be secured by NNEGC without state guarantees from Ukraine.
We remind you that the Ukrainian side has been conducting negotiations for a long time, the result of which was long-term cooperation and obtaining a loan.
Earlier, Petro Kotin, Head of Energoatom, and Boris Schucht, Urenco CEO, signed a contract for the supply of enriched uranium product for Ukrainian nuclear power plants. Therefore, the British company will supply NNEGC with enriched uranium until 2035, with the possibility of extending the contract until 2043. Therefore, the purpose of the loan is to ensure the fulfillment of the contract between Energoatom and Urenco regarding the purchase of nuclear fuel.
Moreover, there are two contracts between Energoatom and Urenco until 2025, according to which the Company supplies nuclear materials to the British side.
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