“Ukrenergo to receive EUR 100 million from the EU for energy restoration
Kyiv • UNN
“Ukrenergo has signed an agreement with KfW on a EUR 100 million grant from the EU to restore and protect its energy infrastructure. The funds will be used to modernize substations, repair damaged equipment, and enhance security of facilities.
On July 18, Volodymyr Kudrytskyi, Chairman of the Board of NPC Ukrenergo, and Lorenz Gessner, Head of the Representative Office of the German State Development Bank KfW in Ukraine, signed an agreement to allocate EUR 100 million in grants for restoration and protection. UNN reports this with reference to Ukrenergo.
The European Commission has authorized KfW to allocate funds from the EU's special budget program Ukraine Investment Facility to Ukrenergo.
For EUR 100 million , a number of priority energy projects will be financed and implemented, such a:
- Modernization of high-voltage substations in the western regions of Ukraine and development of interconnectors connecting Ukraine with the European power system;
- Repair and restoration of equipment at high-voltage substations destroyed or damaged by Russian shelling, as well as procurement and delivery of new equipment;
- Measures to strengthen the physical protection of Ukrenergo substations.
Ukrenergo pointed out that this grant is the second phase of the targeted program "Reconstruction and Restoration of the Electricity Transmission Infrastructure of Ukraine". On June 11, during the Berlin Conference on the Restoration of Ukraine , Ukrenergo signed an agreement with KfW on the first phase of the program worth EUR 15 million.
Since the beginning of the full-scale war, Ukrenergo has already attracted international assistance worth 1.5 billion euros. In particular, 324 million euros were raised with the support of KfW.
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