A ROUNDTABLE WITH ENERGOATOM - BREAKTHROUGH FINANCING FOR BREAKTHROUGH MILLION PROJECT
U.S.-Ukraine Business Council (USUBC)
Washington, D.C. Thu, Feb 15, 2018
USUBC hosted a roundtable with Energoatom, a largest electricity producer in Ukraine. Yuriy Nedashkovsky, President of Energoatom presented a historic project - building a huge Spent Nuclear Fuel Storage Facility in Chernobyl.
The Overseas Private Investment Corporation (OPIC), an agency of the U.S. government, is providing $250 million in political risk insurance for the construction of the Energoatom Central Spent Nuclear Fuel Storage Facility 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 and pay Russia large tipping fees. The total cost of the project is over $410 million.
Holtec International – located in Camden, New Jersey - will supply dry storage casks, transportation casks, ancillary equipment, and engineering and training to the facility over an expected five-year period.
The project not only represents increased energy independence for Ukraine, but also has a number of financial and economic benefits.
Alexander Gordin, Managing Director of Broad Street Capital Group, spoke about the innovative financial part of this unique project. “We at Broad Street Capital Group are excited and proud to be part of this historic financing. Moody's unprecedented credit rating underscores the hugely positive effect of the U.S. Government's credit enhancement to offer long-term, low-rate financing in emerging markets, such as Ukraine, for large infrastructure projects containing U.S. exports,” Mr. Gordin stated.
USUBC is very fortunate to have this opportunity to meet with President of Energoatom Yuriy Nedashkovsky and his team in Washington, and learn about this unique Breakthrough project and challenges of its financing.
Left to Right: Pavlo Moiseichenko, Embassy of Ukraine; Steven Johnston, OPIC; Kyle Trotter, Holtec; Morgan Williams, President, USUBC; Yuriy Nedashkovskiy, President, Energoatom; Alex Gordin, Broad Street Capital Group; Tom Firestone, Baker McKenzie.
Our special Thank you to Baker McKenzie for hosting this event providing a legal expertise to this project!
NOTE: Holtec, Broad Street Capital Group and Baker McKenzie are members of U.S.-Ukraine Business Council (USUBC), Washington, D.C. www.USUBC.org.
More pictures of the event: http://www.usubc.org/site/gallery/A-Roundtable-with-Energoatom-in-Washington--OPIC--Broad-Street-Capital-Group--Holtec-