At the CGPA Management Board meeting, following the voting results, a new member of PJSC “Ukrhydroenergo” was decided to join the CGPA. The Management Board of the CGPA congratulates the new institutional member on joining the Association!
PJSC “Ukrhydroenergo” is the largest hydro generating company in Ukraine, which is included in the list of 15 largest enterprises of the public sector, the total assets of which make up 70 percent of the total public sector.
The company includes ten stations on the Dnipro and Dniester Rivers: the Kyivska HPP and Kyivska HPP, Kanivska HPP, Kremenchuk HPP, Sredneprovska HPP, Dniprovska HPP-1, and Dniprovska HPP-2, Kakhovska HPP, Dnistrovska HPP. Kanivska HPP and Kakhovska HPP-2 are in the process of preparation for construction.
The company’s strategic goal is to provide the power system of Ukraine with electricity to cover peak loads and provide a mobile emergency reserve in Ukraine’s integrated power system due to hydro resources of the Dnipro and Dniester rivers. For this purpose, PJSC ‘Ukrhydroenergo’ provides maintenance in a stable condition and quality operation of the installed equipment and hydraulic facilities.
As part of the corporate governance reform launched in Ukraine, which provided the introduction of independent management bodies of strategic state-owned enterprises, in 2019, PJSC ‘Ukrhydroenergo’ established a supervisory board. Since then, the company started to exist in the new corporate governance system, which has a positive impact on its development and the functioning of the public sector of the economy as a whole. Also, the presence of a supervisory board with the majority of independent directors in the company is essential for effective cooperation with partners and investors.
Valentyn Gvozdiy, Chairman of the Supervisory Board, noted: “Today PJSC “Ukrhydroenergo” is a modern enterprise, which has a developed system of corporate governance, provides a balance of interests of the enterprise and the shareholder – Ukraine as a state.
After all, the purpose of the company is not only to generate profits but also to perform a social function, such as, for example, the performance of duties under the PSO, as well as economic function – the implementation of capital investment (modernization, modification, reconstruction of fixed assets of the enterprise), attracting external financial investment. And that is why sustainable and predictable development of the Company, building its potential and compliance with modern standards of good standing, is critical. The Supervisory Board has already made many necessary steps for the development of the company in the new corporate governance system during its first year of existence. Thus, we constantly analyze the company’s ability to perform its tasks and analyze the risks associated with dividends and the implementation of investment programs. We will do our best to ensure that PJSC “Ukrhydroenergo” holds leading positions among state enterprises and remains a stable and attractive enterprise for new investments and its further development.”