18:28 09.06.2022

Germany will provide Ukraine with EUR3.5 mln to buy equipment for power grid repairs, up to EUR 22.5 mln in loans from KfW

2 min read
Germany will provide Ukraine with EUR3.5 mln to buy equipment for power grid repairs, up to EUR 22.5 mln in loans from KfW

The Federal Ministry for EconomicAffairs and Climate Action of Germany will provide Ukrenergo with EUR3.5 million for the purchase of equipment for the repair of power grids, and the Federal Ministry for Development will facilitate the provision of up to EUR22.5 million in loans by the KfW banking group, German Ambassador to Ukraine Anka Feldhusen said after a meeting with Energy Minister Herman Haluschenko.

"We also support Ukraine's full integration into ENTSO-E," the ambassador stressed in a Twitter post on Thursday.

In turn, the Ministry of Energy of Ukraine clarified that Germany, in particular, is ready to provide assistance to Ukraine for the purchase of static synchronous compensators, which can expand the possibilities for exporting Ukrainian electricity to Europe.

"Anka Feldhusen noted that the Ukrainian energy sector enjoys the extraordinary support of the German government, and Germany is ready to provide assistance for the purchase of static synchronous compensators. Their installation will increase the opportunities for exporting electricity from Ukraine to Europe," the Ministry of Energy said on its website.

According to the ministry, the parties also discussed the current state of Ukraine's energy sector, the situation on the gas market, plans to accumulate fuel for the heating season, and the need to liberate Zaporizhia nuclear power plant occupied by Russian troops to ensure the nuclear safety of the region.

"Ukrainian electricity will help European countries replace Russian energy resources. After synchronization with ENTSO-E, we have already started exporting electricity to Poland and Moldova. However, we have significant potential to increase supply volumes," the minister said at the meeting.

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