Ukraine's energy recovery will cost over $90 billion - Shmyhal
Kyiv • UNN
The restoration of Ukraine's energy sector, according to the World Bank, will cost $90.6 billion. The government proposes public-private partnerships to attract investment.
Ukraine's energy sector recovery needs, according to the latest World Bank estimate, amount to $90.6 billion. This was stated by Energy Minister Denys Shmyhal during Volodymyr Zelenskyy's meeting with international businesses, writes UNN.
Details
The minister emphasized that it is impossible to cover such a volume of expenses solely at the expense of state investments. Therefore, the government offers businesses public-private partnership mechanisms. Shmyhal outlined five key areas that are most promising for investors and critically important for the energy system before the start of the next heating season.
The first priority was named the introduction of energy storage systems (BESS) and flexible reserves to compensate for generation fluctuations.
The second cluster is renewable energy sources, in particular wind energy in safe regions and hydropower.
The third direction is the development of flexible gas generation: gas piston and gas turbine units, as well as cogeneration.
The minister paid special attention to the construction of local Smart Grid networks for communities and enterprises, as well as the development of aggregation. The latter will allow small players, from households to virtual power plants (VPPs), to become competitive market participants.
Recall
President Zelenskyy held a conversation with international businesses regarding strengthening energy resilience and preparing for the heating season. The expansion of investments in Ukraine, particularly in the defense-industrial complex, was also discussed.