First Deputy Prime Minister of Ukraine – Minister of Energy Denys Shmyhal took part in a meeting of the Council for Entrepreneurship Support.

The Minister outlined the Ministry’s key priorities: preparations for winter (including restoration, protection, and the construction of new distributed generation facilities), the update of Ukraine’s Energy Strategy in cooperation with the World Bank, and the implementation of sectoral reforms.

“Ukraine is building a modernized energy system based on the principle of ‘energy cells’, where each unit is capable of operating independently and autonomously. According to the updated strategy, our ambitious goal is to restore installed generation capacity to 54 GW — the level Ukraine’s power system had in 2014,” he emphasized.

Denys Shmyhal stressed that nuclear power will form the foundation of Ukraine’s future energy system, while renewable energy sources and distributed generation will also play an important role.

The First Deputy Prime Minister of Ukraine – Minister of Energy noted that a competitive tender has already been announced for the construction of 1.5 GW of new generation capacity, and the Ministry of Energy has established a dedicated commission for its implementation. In addition, a decision has been adopted to increase the renewable energy support quota for this year to 1 GW.

Denys Shmyhal added that direct Power Purchase Agreements (PPAs) are being introduced and encouraged businesses to make active use of this instrument.

“The market for the recovery and modernization of the energy system creates one of the most significant energy opportunities of recent decades. We look forward to productive cooperation with the business community in developing Ukraine’s energy sector and strengthening the resilience of our state,” the Minister of Energy emphasized.