PJSC Ukrnafta, part of the Naftogaz Group, signed a EUR 44.6 million grant agreement with the European Bank for Reconstruction and Development (EBRD) during URC 2026 in Gdańsk, Poland, to finance the construction of 62 MW of distributed generation capacity, Naftogaz of Ukraine CEO Serhiy Koretsky said.
"These funds will accelerate the implementation of distributed generation projects to support Ukraine’s power system amid continued Russian attacks on the energy sector. The EUR 44.6 million grant complements the previously secured EUR 80 million EBRD loan and will enable us to complete the planned work more quickly," Koretsky wrote on Facebook on Friday.
He specified that the total capacity of the new generation facilities will amount to 62 MW.
"This, in turn, will strengthen the power system amid a shortage of generating capacity caused by Russian attacks on energy infrastructure. I would like to thank the EBRD leadership for its support and confidence," the Naftogaz chief said.
He also reported that Naftogaz and the EBRD signed a memorandum at URC 2026 to expand cooperation in the areas of energy security, infrastructure recovery, and modernization.
According to Koretsky, during a meeting between Ukrainian Prime Minister Yulia Svyrydenko and EBRD President Odile Renaud-Basso, the parties discussed specific parameters of future cooperation in detail, including financial mechanisms to secure imported natural gas purchases for the next heating season.
As reported, Naftogaz signed an agreement with the U.S. EXIM Bank during URC 2026 in Gdańsk, providing an opportunity to attract up to $300 million to purchase U.S. equipment for the restoration of oil and gas infrastructure destroyed by Russia.
According to Koretsky, the next stage will involve practical cooperation with U.S. companies to implement the financing mechanism, which will allow direct lending to U.S. suppliers and contractors for the procurement of equipment by Naftogaz Group companies.
During URC 2026, the Naftogaz Group also reached an agreement with the International Finance Corporation (IFC) on cooperation in attracting private investment to Ukraine.
In addition, agreements were signed with Poland’s ORLEN to expand LNG supplies to Ukraine and exchange expertise in sustainable development, decarbonization, and ESG.
