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AES acquired two distribution companies in Ukraine in 2001—Kievoblenergo and Rivneenergo—which today serve approximately 1.2 million customers. Our utilities bring electricity to homes and schools, and to critical industries including paper mills, chemical companies, flower exporters, beverage companies and the Boryspil international airport.
Under AES’s stewardship, the companies have steadily become some of the best performing electric utilities in the country. The companies’ improvement efforts have helped reduce electricity losses, refurbish the network, increase capacity in high-growth areas and improve overall management efficiency by investing in modern communication systems and information technology. In 2005, the AES team in Ukraine successfully secured $45 million in non-recourse, long-term financing—the largest transaction of its kind to date in the country’s energy sector—from the International Finance Corporation (IFC), the private sector financing arm of the World Bank, to continue to improve performance.
In the community, Kievoblenergo and Rivneenergo provide charitable assistance to numerous organizations, including children’s hospitals and homes, as well as kindergartens and secondary schools. Both companies were the first power distribution companies in Ukraine to arrange regular lectures in local schools on the safe use of electricity. AES Ukraine also has produced, in cooperation with state educational authorities, a safety magazine, “The ABCs of Electric Safety,” which has become part of the curricula in secondary schools in our two service areas in and around Kiev and Rivne.
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