EBRD to support Ukraine’s energy sector with EUR 600M - Shmyhal

Prime Minister of Ukraine Denys Shmyhal said this in a post on Telegram, according to Ukrinform.

According to the Prime Minister, on Wednesday, June 21, a number of memoranda were signed between the EBRD and Ukraine’s Ukrhydroenergo, Ukrenergo and Naftogaz.

“We are strengthening the gas sector of Ukraine. The EBRD's memorandum with Naftogaz envisages three main areas of cooperation: the creation of strategic natural gas reserves, investments to decarbonise and reduce methane emissions, and investments to improve energy efficiency," Shmyhal wrote.

The Prime Minister also announced a new stage of cooperation with the EBRD in the hydroelectric energy.

“The Bank will also support the rehabilitation and modernization of hydroelectric power plants to improve their reliability and efficiency. After the territory of the Kakhovka Reservoir is liberated, we plan to develop a roadmap to reconstruct the hydropower plant,” said Shmyhal.

Another memorandum concerns support for Ukrenergo. “The aim is to provide the company with funds to cover critical costs. In particular, to ensure stable and uninterrupted transmission and distribution of electricity. It is important for the Government to implement a number of recovery measures as soon as possible to ensure maximum security of the energy infrastructure,” he stressed.

Photo: Denys Shmyhal / Telegram