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Did you know: OPIC is helping Ukraine move closer to energy security?

Photo, two men sitting at table signing documents while three men look on, OPIC, Overseas Private Investment Corporation, public diplomacy, national security, Ukraine, Chernobyl, Russia, Energoatom, Yuri Neashkovsky, Oleksandr Danyliuk, Volodymyr Kistion, George Kent, John Gass, Holtec International, Trimont, spent nuclear fuel, energy security, energy independence, Ray W Washburne
Left to right: President of SE NNEGC Energoatom Yuri Neashkovsky; Minister of Finance Oleksandr Danyliuk, Deputy Prime Minister Volodymyr Kistion, U.S. Deputy Chief of Mission George Kent; and Representing Central Storage Safety Project Trust, the Lender under the loan guaranteed by Ukraine, Managing Director of Bond Administration at Trimont REA John Gass

 

In Kyiv, the government of Ukraine hosted a signing ceremony for the Energoatom Central Spent Nuclear Fuel Storage Facility, which will help move Ukraine closer to energy independence. OPIC committed $250 million in political risk insurance for the project, which will create a safe environment for processing, storing, and safeguarding significant quantities of nuclear spent fuel. Holtec International of Camden, New Jersey is supplying storage casks and other equipment along with training over a five-year period. This project will save $50 million in annual costs, reduce Ukraine’s reliance on Russia for the storage of spent nuclear fuel, and will ensure that the spent nuclear fuel is stored safely and appropriately monitored.

“It is a pleasure for the United States to help move Ukraine towards energy independence by providing the capability to store spent nuclear fuel in-country thus eliminating the need to ship the spent fuel to Russia for storage,” commented OPIC President and CEO Ray W. Washburne.

This project underscores OPIC’s commitment to both Ukraine – where the Agency’s portfolio has more than quadrupled in recent years – and to helping American businesses enter new markets abroad.

 

 

 

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