“Nuclear Banking: a consortium of international banks and Energoatom signed a multimillion-dollar deal
On July 17, 2024, NNEGC Energoatom and a consortium of international banks consisting of Deutsche Bank AG and Barclays Bank PLC entered into a loan agreement for £181 million.
The purpose of the loan is to ensure the fulfillment of the agreement between Energoatom and Urenco on the purchase of nuclear fuel. In particular, the funds will be used to finance the supply of nuclear materials - enriched and natural uranium hexafluoride - under the contract. This was reported by the Ministry of Energy of Ukraine.
The agreements provide for the supply of nuclear materials until 2035 with the possibility of extending the contract until 2043. The loan is provided for 5 years under the guarantee of the UK Government (through the UK Export Credit Agency UKEF).
“Cooperation with the UK in the nuclear industry is of strategic importance for our country. Ukraine has completely abandoned any contacts with the terrorist state of Russia in the nuclear industry, including the supply of enriched uranium. Continued long-term cooperation with British partners in this matter not only strengthens our energy independence, but is also important for the future development of the nuclear industry at the global level,” said Minister of Energy of Ukraine Herman Galushchenko.
In November 2023, Energoatom and Urenco signed a contract for the supply of enriched uranium product for Ukrainian NPPs.