Ukraine already planning construction of new Kakhovka dam at estimated cost of $1 billion
Photo: EPA

Ukrhydroenergo plans to build a new Kakhovka Hydroelectric Power Plant after the de-occupation of the south of Ukraine, the CEO of the company, Ihor Syrota, said on national television on Tuesday.

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"Today we can see that half of the plant is gone and it is under water. The hydraulic structure is being washed away. We will need to build a new station very quickly and we will build an even more powerful hydroelectric power plant on the same site," he said.

In an interview with Forbes, Syrota said that the new plant will take at least five years and up to $1 billion in investment.

"Today, we have already discussed this issue with the design institute. Builders from Italy and Turkey have already approached us. According to our calculations, to build a new station, $800 million to $1 billion is needed. In addition to the station, it will be necessary to build a bridge and a railway crossing. All this was destroyed. If you work 24/7, it will take five years," Syrota stated.

Until then, it will be possible to restore the reservoir using a temporary dam.

Syrota added that the HPP in Nova Kakhovka played an important role not only as a balancing generation as the Kakhovka Reservoir supplied water to a huge number of people and enterprises.

Early on Tuesday, the Russian occupiers blew up the Kakhovka Hydroelectric Power Plant, and an evacuation was announced.

Ukrhydroenergo stated that the Kakhovka HPP was completely destroyed after the explosion and cannot be restored.