EBRD Allocates €600 Mln for the Energy System of Ukraine

by Meifan Honcharuk
Thursday, June 22, 2023
EBRD Allocates €600 Mln for the Energy System of Ukraine

The funds will be distributed between "Ukrhydroenergo", "Ukrenergo", and "Naftogaz"

On June 21, the prime minister of Ukraine, Denys Shmyhal, and the president of the EBRD, Odil Renault-Basso, signed 3 memorandums of cooperation in 3 energy sectors of Ukraine: hydropower (Ukrhydroenergo), electricity (Ukrenergo), oil and gas (Naftogaz).

Ukrenergo. Shmyhal, Renault-Basso and the head of Ukrenergo Volodymyr Kudrytskyi signed a memorandum of understanding and the following launch of the Special capital structure support project. Restoration of infrastructure and financing of urgent needs.

"This project will be aimed at supporting the liquidity of Ukrenergo and the electricity market, stabilising the financial situation in the energy sector," Volodymyr Kudrytskyi.

Naftogaz Ukraine. Shmuyhal, Renault-Basso and the head of Naftogaz, Oleksiy Chernyshov, signed a memorandum that will promote the development of 3 areas: strategic natural gas reserves, decarbonisation and energy efficiency.

"Despite the hostilities, we continue to ensure the stable operation of the energy system and look for new opportunities to protect it. Today, the support of international partners is one of the important factors of the stability of the Ukrainian energy industry," Oleksiy Chernyshov.

Ukrhydroenergo. Shmyhal, Renault-Basso and the general director of Ukrhydroenergo Ihor Syrota signed a memorandum to promote cooperation in the emergency restoration of hydroelectric power plant equipment damaged by the Russian war. The investment will partially cover the work at the Kakhovka HPP.

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