At a meeting, the Cabinet of Ministers supported the decision that launches the procedure for transforming the state-owned enterprise Energoatom into a joint-stock company, the government portal reported, citing Prime Minister Denys Shmyhal on Tuesday.

"Energoatom is one of the largest NPP operators in Europe, the company is strategically important for the energy security of the state. We bring it to international standards of corporate governance. At the same time, we keep 100% of the company's shares in state ownership," he said.

According to the prime minister, as a result, this will increase the efficiency of management, attract additional funds for the implementation of new projects and strengthen energy independence.

As Energoatom supplemented government information on its Telegram channel on Tuesday evening, the Cabinet of Ministers reorganized the state-owned enterprise by transforming it into JSC National Nuclear Energy Generating Company Energoatom, 100% of the shares in the charter capital of which belong to the state and are not subject to privatization or alienation in any other way.

The Cabinet of Ministers also created a commission for the transformation of Energoatom and approved its composition, set a deadline for creditors to submit their claims to the enterprise – two months, and created an inventory commission.

As reported, on February 6, 2023, the Verkhovna Rada of Ukraine supported at the second reading bill No. 8067 on the corporatization of the state-owned Energoatom, which provides for the transformation of Energoatom from a state-owned enterprise into a joint-stock company, with 100% of shares owned by the state.

Corporatization of Energoatom is provided for by a loan agreement between the company and the European Bank for Reconstruction and Development (EBRD) and a guarantee agreement ratified by the Verkhovna Rada "Comprehensive generalized program to improve the safety level of nuclear power units."