On 15 November 2025, GEK TERNA signed a Memorandum of Understanding (MoU) with Ukrhydroenergo (Ukranido Energy), marking a milestone as the first partnership between a Greek infrastructure giant and a major European energy operator in Ukraine.
This collaboration reinforces GEK TERNA’s position as Southeast Europe’s largest and most reliable infrastructure company, recognized internationally for its technical expertise.
Projects under the MoU
The cooperation will focus on two major hydroelectric and pumped-storage projects in Western Ukraine:
- Dniester Pumped-Storage Hydropower Plant (PSPP) – 1,263 MW
- New Pumping Station – 220 MW
The combined budget is projected at €1.5 billion, with further opportunities under consideration in other hydroelectric and pumped-storage facilities across the country.
Strategic significance
Ukrhydroenergo, Ukraine’s largest hydroelectric company, is fully state-owned. The partnership with GEK TERNA:
- Strengthens energy network stability by improving electricity management and grid reliability.
- Accelerates energy transition by expanding renewable energy storage capacity through pumped-storage technology.
- Secures international financing and support, expected from institutions such as the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB), including technical and regulatory guidance.
GEK TERNA contributes its extensive experience in constructing and operating complex energy infrastructure, notably the largest pumped-storage plant in Greece, at Amfilochia, further cementing its global reputation.
About Ukrhydroenergo
Founded in 1994, Ukrhydroenergo is among Ukraine’s 15 largest state-owned enterprises, operating 10 hydroelectric units and pumped-storage facilities along the Dnipro and Dniester rivers.
Since 2014, the company has partnered with the European Investment Bank to upgrade and modernize hydroelectric plants, demonstrating long-standing international collaboration expertise.
Economic and geopolitical implications
This agreement represents a major geo-economic step for Greece:
- Export of technical know-how: Highlights Greek companies’ capacity to operate in critical energy sectors abroad.
- Strengthening European energy stability: Contributes to Ukraine’s energy security and diversification.
- Support for renewable energy transition: Positions Greece as a key player in international renewable infrastructure development.
The GEK TERNA – Ukranido Energy partnership is a strategically significant move, reinforcing Greek technical expertise, supporting energy security in Ukraine, and opening the door to future hydroelectric and pumped-storage projects. The collaboration combines economic, technological, and geopolitical dimensions, positioning GEK TERNA at the forefront of international energy investment in Europe.
Source: pagenews.gr