Tsentrenergo sabotages the modernization of Trypilska TPP, risking losing investor support
Public Joint-Stock Company “Tsentrenergo” delays negotiations on the modernization of Trypilska Thermal Power Station, damaged by Russian attacks, due to the fear of losing profit from coal supply “schemes”. This is reported by an investigation from Bihus.Info.
Swedish fund Swedfund was ready to provide a grant for the modernization of one of the old coal energy units, transitioning to biofuel. However, discussions were prolonged, and the negotiator Olga Yevstigneeva, a former expert from the Reform Support Office, was fired. She reported that the company is unable to attract funds from investors due to its coal profile, which Europe is ceasing to support.
Tsentrenergo initially agreed on the modernization, signing the first stage – the development of a decarbonization roadmap, financed by the European Investment Bank. However, it allegedly began to sabotage the negotiations, claiming that the internal biofuel market is underdeveloped and questioning the potential decrease in coal demand, which could result in losses.
Yevstigneeva suggested that the company is not interested in transitioning to eco-friendly fuel due to the risk of losing income sources from coal. The company has repeatedly found itself at the center of scandals, especially when it was de facto controlled by businessman Ihor Kolomoisky’s structures – then coal was purchased at undervalued prices with a markup for Tsentrenergo. The situation has not drastically changed even after neutralizing his influence, as journalists note.
Information obtained from Bihus.Info emphasizes that such cases are not isolated, and the company may be losing hundreds of millions by not receiving coal supplies on time or with low quality. The main activity of Tsentrenergo is the production of electrical and thermal energy, which constitutes about 8% of the national electricity production.
| Thermal Power Stations | Location | Status |
|---|---|---|
| Trypilska TPP | Kyiv Region | Damaged |
| Zmiivska TPP | Kharkiv Region | Operational |
| Vuhlehirsk TPP | Donetsk Region | Temporarily occupied |
The refusal to modernize and dependence on corrupt schemes threaten the attraction of investments for the development of more ecological projects, which could negatively impact the company’s image and the energy independence of the region.
