As reported by the Minister of Energy of Ukraine, German Galushchenko, financial agreements in the energy sector were secured for more than €1.2 billion. These include the development of nuclear and hydropower generation, projects for oil and gas exploration and extraction, educational programs, and mechanisms for supporting and developing renewable energy sources, among others.
More than 30 agreements and memorandums were signed with international partners to enhance energy security, accelerate recovery, and support Ukraine’s integration into the European energy market.
Important arrangements were reached regarding the strengthening of energy security and preparation for the upcoming heating season in wartime conditions. These agreements are not disclosed publicly for security reasons.
In particular, a memorandum was signed with the IAEA, which will act as a guarantor of safety during the completion of additional power units at the Khmelnytskyi Nuclear Power Plant. In addition, support was confirmed for uranium exploration, extraction, and production in Ukraine. This will strengthen Ukraine’s energy independence and allow the use of existing resources for the development of domestic generation.
A crucial area is the diversification of nuclear fuel. Ukraine has agreed to obtain a license from Westinghouse that will enable the use of VVER-1000 fuel assembly design and manufacturing technology. The potential deployment of Holtec’s small modular reactors is also envisaged.
Projects are underway to develop gas infrastructure, LNG transportation, and research possibilities for geothermal energy and CCS technologies. Concrete steps toward decarbonization are being taken as well – including the preparation of an emissions reduction strategy and pilot projects to convert thermal power plants to biomass.
A large-scale initiative has been launched in partnership with UNDP, aimed at “green” recovery, transformation of Ukraine’s energy sector, and support for the Ukrainian energy system. This initiative includes both emergency response to the current crisis and long-term modernization in line with national priorities.
Several memorandums and agreements focus on strengthening international technical and financial assistance. Among them is funding for the restoration and modernization of several combined heat and power plants (CHPs).
Important agreements in the field of hydropower have also been signed, aimed at strengthening the stability and flexibility of Ukraine’s power system, enabling rapid load balancing, and increasing the share of green energy. These include agreements with the European Investment Bank (EIB), Webuild (Italy), and Voith Hydro (Germany).
The launch of risk mitigation mechanisms for investments in renewable energy was also announced, along with projects for new wind power plants and green recovery programs focused on energy efficiency and emissions reduction.
There is a strong emphasis on cooperation with leading European companies such as Terna, Siemens, Baker Hughes, and Snam. This will contribute to enhancing the reliability, digitalization, and sustainability of Ukraine’s power system. These agreements are a guarantee that Ukraine’s energy system will become more flexible and resilient to attacks, and will be able to integrate confidently into the European market.
Each agreement reflects our vision for transformation and contributes to strengthening Ukraine’s energy resilience and integration into the European energy system.
Additionally more than €240 million will be contributed by URC 2025 donor countries to the Ukraine Energy Support Fund. These funds will be used to purchase equipment and restore critical infrastructure damaged by enemy strikes.
“The best indicator of the success of our cooperation is that the people of Ukraine, despite unprecedented massive enemy attacks, still have light and heat,” emphasized the Minister of Energy.
German Galushchenko expressed gratitude to all partners for their continuous support, emphasizing that only through joint efforts is Ukraine able to resist russian terror.
