The First Deputy Minister of Energy Tetyana Maksymets noted, that this should give an impetus to accelerate the implementation of projects for the development of the electricity infrastructure in Ukraine.

In its turn it will contribute to raising the level of energy security in Ukraine and will improve the competitiveness of the Ukrainian energy sector.

According to the Memorandum, the parties outlined plans for mutually beneficial cooperation in the development of the electricity sector of Ukraine and the PRC, as well as the continuation of fruitful dialogue in the future.

For reference:

Ukrenergo operates trunk and interstate transmission lines, as well as centralized dispatching of the combined power system of the country. It is a state-owned enterprise under the Ministry of Energy and Coal Industry.

China Electric Power Equipment & Technology Co., Ltd. (SET) is a subsidiary of the Chinese state-owned State Grid Corporation of China, the Chinese electrical power company which is the world largest in the industry.

In the domestic market of China, State Grid is a monopoly in transporting and selling electricity. It specializes in the construction and operation of electric networks, both in China and abroad.