An Executive Confidentiality Agreement between TERNA and Ukraine's Ukrhydroenergo was signed last Friday afternoon (20.2) in Kiev.
The document follows on from the Memorandum of Understanding (MoU) signed in mid-November 2025 between the two companies. The purpose of the MoU is the joint development and implementation of large hydroelectric and pumped storage projects in Ukraine, with a total budget of approximately €1.5 billion.
With the signing of the Executive Confidentiality Agreement, TERNA, a subsidiary of the GEK TERNA Group, gains access to critical technical, financial, and operational data on projects of mutual interest, with a view to their further maturation and development.
It should be noted that the TERNA-Ukrhydroenergo agreement includes the joint development and implementation of:
- The 1,263 MW Dniester PSPP Pump Storage Power Plant
- New 220 MW pumping station (New Pumping Station)
This is the first agreement between a Greek and European infrastructure group in the Ukrainian energy sector.
GEK TERNA confirms its role as the largest and most reliable infrastructure company in Southeast Europe, with internationally recognized expertise.
The two projects are located in western Ukraine and will initially be implemented under the MoU.
At the same time, the two companies are exploring other opportunities in hydroelectric and pumped storage projects in the country.
The critical energy infrastructure to be implemented by TERNA will contribute to the stabilization of the energy network and accelerate Ukraine's energy transition. They are also expected to receive significant support from international financial organizations and European institutions (EBRD, EIB, etc.), including technical and regulatory assistance.
The Signing Ceremony
The Confidentiality Agreement was signed by GEK TERNA's Executive Director of International Development, Stathis Natsis, and Ukrhydroenergo's CEO, Bohdan Sukhetskyi (photo).
The ceremony took place at the Enterprise Greece national pavilion "Greece" during the international construction and infrastructure exhibition "KyivBuild Ukraine 2026" in Kiev. The event was attended by Ukraine's Deputy Minister of Energy, Mykola Kolishnyk, while Deputy Minister of Foreign Affairs, Haris Theocharis, participated online.
The Dniester PSPP Pump Storage Station is a 1,263 MW pumped storage power plant located on the Dnies