EBRD will allocate €150 million to support “Ukrenergo”

The European Bank for Reconstruction and Development (EBRD) signed an agreement with Ukraine to provide €150 million to support “Ukrenergo” during the heating season.

This was reported by the Prime Minister of Ukraine Denys Shmyhal.

"This is a significant contribution of partners to Ukrainian energy security and stable supply of Ukrainian consumers," he noted.

The prime minister also noted that in cooperation with the EBRD, projects for the comprehensive reconstruction and restoration of Ukrainian highway networks are being implemented.

• During last yearʼs attacks on Ukraineʼs energy system, the Russians damaged 270 energy facilities — thatʼs 50% of the entire energy system. It is about 30% of generation and 20% of distribution networks. There are objects that cannot be restored — they need to be rebuilt, which will take years and large investments. After repair, the system will be ready to generate and transmit light, the only question is its stability. On February 12, 2023, “Ukrenergo” reported for the first time during Russiaʼs fall-winter attacks on the Ukrainian energy system that it had no capacity deficit.
• At the end of November, Ukraine was transferred to permanent synchronization with the European energy grid. Now Ukraine will be able to import up to 1 700 MW of electricity from Europe, and this is an additional 500 MW, which will cover a possible deficit in winter.
• Also last month, the US pledged to provide Ukraine with approximately $500 million to strengthen its energy system.