Ukraine prepares new energy projects with EBRD – Shmyhal

Currently, the signing is being prepared for a EUR 90 million loan for NPC "Ukrenergo" and the reallocation of EUR 160 million for gas purchases.

According to Ukrinform, First Deputy Prime Minister and Minister of Energy of Ukraine Denys Shmyhal stated this on Telegram, following a meeting with EBRD First Vice President Greg Guyett.

"Together with key partners, we are preparing new projects in the public sector for signing, in particular a loan of EUR 90 million for NPC 'Ukrenergo', as well as a decision on the temporary reallocation of EUR 160 million for the purchase of natural gas," Shmyhal said.

He informed Guyett about the situation in Ukraine's energy system and the consequences of today's Russian attack: "The situation is most challenging today in Kyiv and Kharkiv. Due to enemy shelling, Ukraine has lost a significant part of its electricity generation. We are working to compensate for the deficit through distributed generation."

It is noted that Ukraine is implementing 13 energy projects jointly with the EBRD. These include support for gas production, restoration of power grids and hydropower plants, and strengthening nuclear safety. Shmyhal discussed each of them with the EBRD representative.

"We also focused separately on issues of infrastructure protection and the resources needed for recovery. Attention was also paid to gas imports to meet the needs of this and the next winter. I am sincerely grateful to the EBRD for allocating EUR 500 million to NJSC 'Naftogaz of Ukraine' for gas purchases, as well as an additional EUR 85 million from Norway. This support made it possible to form the necessary gas volumes. I count on further cooperation in this direction," Shmyhal added.

As reported, the World Bank will allocate $40 million to NPC "Ukrenergo" for the purchase of critically important equipment needed to restore the energy system.

Photo: t.me/Denys_Smyhal/