The primary purpose of the dam is hydroelectric power generation and navigation.

It is the third dam in the Dnieper cascade and creates the largest reservoir on the river.

The dam has an associated lock and a power station with an installed capacity of 624 megawatts (837,000 hp).

[2][3] On the morning of October 31, 2022, Russian forces launched a massive missile strike on critical infrastructure facilities in Ukraine.

In particular, a missile hit was recorded on the territory of the Kremenchuk Hydroelectric Power Station.