Ukrnafta plans to attract financing from Deutche Bank for construction of flexible generation

PJSC Ukrnafta signed a memorandum of cooperation with Deutsche Bank to attract financing for the construction of gas maneuverable generation, the company's press service reported.

In addition, at the Ukraine Recovery Conference held in Berlin, the company signed a Memorandum of Understanding (MoU) with Siemens Energy. The agreement will help obtain expertise and develop new projects based on steam and gas turbines for combined heat and power production.

"The most important issue now is strengthening the Ukrainian energy system, destroyed by Russian attacks. Decentralization and increasing efficiency. Ukrnafta has become part of this process. This is included in the company's ESG strategy, in particular, as an organic process of expanding the value chain. It is also important from the point of view in terms of the company's social responsibility," said company director Serhiy Koretsky.

Earlier, Ukrnafta and Ukrhydroenergo announced that EUR 300 million provided by the European Bank for Reconstruction and Development (EBRD) to support Ukraine's energy sector will be used to implement projects to restore generating capacity through the construction of new flexible generation.