European Union allocates grant of €100 million to Ukrainian national power company
Volodymyr Kudrytskyi, Chairman of the Management Board of Ukrenergo, a Ukrainian national power company, and Lorenz Gessner, Head of the KfW Representative Office in Ukraine, have signed an agreement worth €100 million.
The European Commission has authorised KfW to allocate funds from the EU's special budget programme, Ukraine Investment Facility, to Ukrenergo.
The allocated funds will be used:
- For the modernisation of high-voltage substations in the western oblasts of Ukraine and the development of interconnectors connecting Ukraine with the power system of continental Europe
- For repair and recovery of equipment destroyed or damaged by Russian attacks at high-voltage substations, as well as procurement and delivery of new equipment;
- For measures to strengthen the physical protection of Ukrenergoʼs substations.
This grant is the second phase of the targeted programme Reconstruction and Rehabilitation of Ukraine's Electricity Transmission Infrastructure.
On 11 June, Ukrenergo signed a €15 million agreement with KfW on the first phase of the programme during the Ukraine Recovery Conference in Berlin.
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