EU allocates €15 million to Ukrenergo to repair substations damaged by Russian attacks
Kyiv • UNN
Ukrenergo attracted EUR 15 million in grant funds from the European Union through KfW Bank to reconstruct substations damaged by Russia's attacks on Ukraine's energy infrastructure.
"Ukrenergo has attracted 15 million euros in grant funds from the European Union through KfW to reconstruct substations damaged by Russia's massive attacks on Ukraine's energy infrastructure. This was reported by Ukrenergo, according to UNN.
Details
On June 11, an important grant agreement was signed during the International Conference on Ukraine's Recovery in Berlin. At this event, Volodymyr Kudrytskyi, Chairman of the Board of NPC Ukrenergo, Christian Leibach from the KfW Board, Veronica Garcia del Arco from KfW, Vice President of the European Commission Valdis Dombrovskis, Gert Jan Koopman from the EC Directorate-General, and Deputy Minister of Economy of Ukraine Volodymyr Kuzio announced the allocation of EUR 15 million from the European Commission.
These funds, which were transferred through the state-owned German Development Bank KfW under the EU's Neighborhood Investment Platform, will be used to purchase critical equipment and repair high-voltage networks damaged during large-scale Russian attacks.
"The European Union is supporting Ukraine in these difficult times to counter Russian aggression and to restore, reconstruct and modernize the country. To this end, we have already provided over 98 million euros of support. We are pleased to be working with key international partners to mobilize public and private investment, as well as to strengthen our assistance to small and medium-sized businesses, municipalities and regions, rebuilding infrastructure and promoting the transition to green and digital technologies," said Oliver Vargey, European Commissioner for Neighborhood and Enlargement.
Today's grant agreement marks the start of cooperation between NPC Ukrenergo, KfW and the European Commission within the framework of the project "Reconstruction and Rehabilitation of Ukraine's Electricity Transmission Infrastructure". Funds for the second phase of this project are expected to be provided in the near future.
Volodymyr Kudrytskyi, Chairman of the Management Board of NPC Ukrenergo, expressed his gratitude to the European state institutions and long-term partners from the state-owned German Development Bank KfW for their timely and comprehensive support. He emphasized that such support in the context of constant Russian terrorist attacks on Ukraine's energy facilities is a significant contribution to ensuring the country's energy security.
"Reconstruction, modernization and expansion of the electricity transmission infrastructure are extremely important for the recovery and economic development of Ukraine. Improving energy efficiency and integrating Ukraine's electricity system with Europe will help stabilize electricity supply. As a result, both the business environment and the everyday life of Ukrainians will improve across the country," emphasized KfW Board Member Christiane Leibach.
Recall
The national energy company Ukrenergo has received €30.4 million from the German government to improve the reliability of Ukraine's energy infrastructure.
