Ukraine will receive €86 million from the EU to protect the energy sector
- Author:
- Iryna Perepechko
- Date:
Ukraine received €86 million from the European Investment Bank to protect energy infrastructure from drone attacks.
This is stated on the institutionʼs website.
The national electricity transmission system operator of Ukraine, Ukrenergo, will spend these funds to build shelters to protect critical electrical substations.
This is the first tranche of the EIB Ukraine Energy Rescue Plan since its adoption in October this year. It provides up to €600 million in financing for emergency energy projects in the public and private sectors.
The funds will support the construction of protective structures for power transmission equipment to protect them from Russian drones and increase their resistance to attacks. This investment will allow Ukrenergo to increase the stability and reliability of electricity transmission in the regions of Ukraine, the EIB said.
Power outages in Ukraine
Since mid-November, Russia has renewed attacks on Ukraineʼs energy system. According to President Zelensky, December 13 was one of the most large-scale attacks on the Ukrainian energy sector.
According to European Commission President Ursula von der Leyen, Ukraine needs 17 gigawatts of capacity this year. The European Union has allocated €160 million to Ukraine to support energy security ahead of winter. Part of the amount will be provided from frozen Russian assets.
And Slovakia stated that in the event of a blackout, it would provide Ukraine with emergency electricity.
A Lithuanian renewable energy company has allocated €4 million to support Ukraineʼs power grid ahead of winter. The funds will help provide electricity to 420 households.
Germany has also allocated an additional €65 million to repair Ukraineʼs energy infrastructure.
- The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by the Member States. It finances investments that contribute to the achievement of EU policy objectives and is one of the largest creditors of Ukraine.