A grant agreement for EUR 100 million was signed by head of the board of Ukrenergo Volodymyr Kudrytsky and Head of the KfW Representative Office in Ukraine Lorenz Gessner, the company reported.

According to her message on Telegram on Friday, the document was signed in Kyiv on Thursday in the presence of Deputy Minister of Energy of Ukraine Roman Andarak and members of the EU Delegation to Ukraine.

It is noted that the European Commission authorized KfW to send funds from the special EU budget program Ukraine Investment Facility to Ukrenergo and ensure the financing and implementation of a number of priority energy projects.

The matter concerns the modernization of high-voltage substations in the western regions of Ukraine and the development of interstate interconnectors connecting it with the power system of continental Europe, as well as the repair and restoration of equipment at high-voltage substations destroyed or damaged by Russian shelling, the purchase and supply of new equipment.

In addition, part of the funds should be used for measures to strengthen the physical protection of Ukrenergo substations.

The company noted that this grant is already the second phase of the Reconstruction and Rehabilitation of Electricity Transmission Infrastructure of Ukraine target program, since at the Ukraine Recovery Conference 2024 in Berlin in June the company signed an agreement with KfW on the first phase of the program in the amount of EUR 15 million.

In total, since the beginning of the full-scale war, with the support of KfW, Ukrenergo has attracted EUR 324 million, and the total volume of attracted international assistance amounted to EUR 1.5 billion, it summarized.