Green Energy Investment in Odesa
Ukraine and the Republic of Korea are advancing cooperation in the energy sector with a project to construct a combined heat and power (CHP) plant in Odesa. The facility will run on refuse-derived fuel (RDF) — a type of fuel produced from municipal and industrial waste.
The initiative was discussed during a meeting between Minister of Economy Oleksiy Sobolev and representatives of POSCO International Corporation. According to the Ministry of Economy, the project has already been included in Ukraine’s list of strategic priorities.
Environmental and Energy Efficiency Focus
Consultations with the Odesa city administration have emphasized two main aspects of the project:
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Environmental protection – reducing harmful emissions by transforming waste into energy.
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Energy efficiency – ensuring stable heat and electricity supply for the region.
Minister Sobolev stressed the dual importance of the project:
“The CHP in Odesa combines investment and environmental components. It introduces modern technologies to reduce emissions and sets an example for replication in other Ukrainian regions.”
Korean Partners and Financing Tools
The Korean delegation highlighted Ukraine’s cooperation with the Economic Development and Cooperation Fund (EDCF) and KEXIM Bank, which will provide financing opportunities for Korean companies.
POSCO International, with extensive experience in large-scale infrastructure projects abroad, has expressed readiness to apply its expertise in Ukraine’s post-war reconstruction.
Strategic Next Steps
The Recovery Agency will submit the project to the Unified Project Portfolio of the State, where it will undergo expert assessment before review by the Strategic Investment Council.
If approved, the Odesa CHP will become one of Ukraine’s flagship waste-to-energy investments, reducing landfill use, strengthening energy security, and attracting foreign capital into green infrastructure.
