€12 Mln Investments for Ukrainian Energy Sector 

by Meifan Honcharuk
Wednesday, April 19, 2023
€12 Mln Investments for Ukrainian Energy Sector 

Lithuanian "Ignitis Group" to direct 10% of excess profits to restore Ukrainian energy carriers 

Minister of energy Herman Halushchenko said that the Lithuanian company wants to help in restoring the energy system of Ukraine. The company will give 10% of the profit. This step will not create a deficit of finances because Ignitis Group 2022 had a surplus. Due to Russian missile attacks on Ukrainian power plants, the energy demand has increased in other countries.

"These super-profits are obtained at the cost of the lives of Ukrainians," Halushchenko believes.

Recall that recently the Ministry of energy of Ukraine offered the companies of other countries to join the restoration of the Ukrainian industry destroyed by Russia. The Ministry says companies can share additional revenue generated by rising prices and demand for services. Herman Halushchenko believes that foreign companies should choose whether they want to help. Also, each investor in reconstructing Ukrainian stations determines the amount of assistance. The Lithuanian company Ignitis Group was the first to participate in the project and will give €12 million. For these funds, Ukraine will acquire the equipment necessary for the repair of power plants.

Those ready to invest in restoring power plants in Ukraine can still join the initiative. Recall that Ukraine has already received the first foreign guarantor of investment security.

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