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Eastern Europe

Energoatom: Advancing energy security in Ukraine

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Ground breaks at the Energoatom facility in Ukraine

Country: Ukraine​​​​​​​

Sector: Energy

Challenge: Because Ukraine has limited capacity to store spent nuclear fuel, it must pay to ship some of the waste to Russia.

Solution: OPIC is providing $250 million in political risk insurance for the construction of the Energoatom Central Spent Nuclear Fuel Storage Facility in the Chernobyl Exclusion Zone in Ukraine. With capacity to store 169,000 tons of spent fuel per year, the new facility will reduce the need to ship the spent fuel to Russia.

Impact: Increased capacity to store spent fuel will move Ukraine closer to energy independence. The project also advances OPIC’s ongoing commitment to support development in Ukraine, a U.S. foreign policy priority where OPIC’s portfolio has increased more than six-fold since 2014.

The project has also generated significant business for Camden, New Jersey-based Holtec International, which is supplying storage casks and related equipment and training.

This project was profiled in 2018