Ukrhydroenergo records almost $320 million in net profit during year of war
During the war year, Ukrhydroenergo earned almost UAH 12 billion in net profit (Photo:Прес-служба Укргідроенерго)
State-owned hydropower generation company Ukrhydroenergo earned UAH 11.78 billion ($318.9 million) in net profits in 2022, according to governmental decree No. 375-r, dated April 28.
Almost UAH 2.2 billion ($58.5 million) will be allocated to pay dividends to the state budget, the Cabinet of Ministers noted.
According to the decree, the distribution of the company's net profit for 2022 is as follows:
— UAH 2.16 billion ($58.5 million) for dividend payments;
— UAH 3.6 billion ($97.5 million) to finance the restoration of destroyed and damaged property as a result of missile strikes by Russia;
— UAH 6.02 billion ($163 million) for production development.
Earlier, NV reported that Ukrhydroenergo has already restored 500 MW of capacity lost as a result of Russian attacks and plans to restore another 1,500 MW.
Ukrhydroenergo is Ukraine's largest hydroelectric generation company, with 10 facilities on the Dnipro and Dniester rivers. One of the company's plants, the Kakhovka Hydropower Plant, was occupied by Russia in the first days of the war.
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