Urenco welcomes UK Government support for nuclear power in Ukraine

The UK’s export credit agency is to provide a £192 million loan to Energoatom, our long term customer in Ukraine and the country’s national nuclear company, to enable Urenco to continue providing vital enrichment services for its nuclear fuel. 

The agreement between UK Export Finance (UKEF) and Energoatom is significant since nuclear power generates over half of Ukraine’s electricity. 

Since the outbreak of conflict, it is more important than ever that Urenco plays its part to support Ukraine with the power its country and residents need. 

We have been a nuclear fuel supplier to Ukraine since 2009, with regard to enriched uranium, and have our own contracts with Energoatom.

Welcoming the development, CEO of Urenco, Boris Schucht said: 

“We remain deeply concerned about the ongoing developments in Ukraine and our thoughts are with the people suffering as a result of the conflict.

“Since the start of the invasion, we have provided support to our customer, Energoatom, and its employees, and increased our supply of nuclear enrichment services to help provide energy independence and security of supply in Ukraine.

“We are actively discussing longer term supply with Energoatom and are ready to play our part in supporting their future.  We have the capacity to meet current demand for uranium enrichment services and options to increase this to provide an enhanced offering globally.

“Collaboration from governments, such in the UK with this agreement, is critical to facilitate this, as well as with customers and the wider nuclear industry, and we will continue to do all we can to play a valuable role.”

To see the Government’s full announcement, click here 

Share Article