Ukraine plans to attract EUR 5.4 bln to support energy sector in 2026 – Energy Ministry
Ukraine plans to attract EUR 5.4 billion in 2026 for the restoration, protection, and modernization of the energy sector, the Ministry of Energy announced on Wednesday.
"We have an ambitious goal of attracting EUR 5.4 billion (...) To this end, the Ministry of Energy is developing the 'Energy Rammstein' format, which brings a new level of speed and efficiency to interaction," the ministry noted.
According to the Ministry of Energy, Ukraine, together with international partners, launched the Energy Support Fund four years ago, through which EUR 1.9 billion has since been mobilized from 37 partners in 26 countries.
"The Fund has become one of the key channels for broad international support of the Ukrainian energy sector. Its architecture includes independent administration, competitive procurement, and direct supply of equipment to companies. Every contribution is accountable," the ministry explained.
In turn, as First Deputy Prime Minister of Energy Denys Shmyhal reported on Wednesday, he had a constructive dialogue with the Director of the Energy Community Secretariat, Artur Lorkovsky.
"We must mobilize resources as much as possible and expedite procurement through the Energy Support Fund. Our goal is to have all critical equipment in Ukraine and ready for use by the end of October," he wrote on Telegram.
The parties are currently jointly developing additional mechanisms for direct or urgent procurement within the Fund, and are also continuing to work with donors.
"The Fund is ready to reallocate over EUR 195 million in donor funds for priority needs. Our teams are already compiling a list of urgent requests. Energy equipment worth over EUR 200 million is already on its way," Shmyhal said.
With the assistance of the Energy Support Fund, 15 projects have already been financed for a total of EUR 225.1 million, within the framework of which 223.9 MW have been commissioned, and another 303.7 MW are at various stages of completion.
