Ukraine Plans to Attract EUR 5.4 Billion to Support Energy Sector by 2026 – Ministry of Energy

On Wednesday, the Ministry of Energy of Ukraine unveiled its ambitious plans to secure EUR 5.4 billion by the year 2026 for the support of the country's energy sector. This funding is intended for the restoration, protection, and modernization of energy systems, a necessity that has become particularly pressing in light of the contemporary challenges that Ukraine is facing.

Officials from the Ministry highlighted that to achieve this goal, a new cooperation format called 'Energy Ramstein' is being developed. This initiative aims to enhance the speed and efficiency of interactions with international partners. The Ministry emphasized that this initiative opens new avenues for attracting investments and resources into the energy sector.

According to information from the Ministry of Energy, four years ago, Ukraine, in collaboration with international partners, established the Energy Support Fund. Since then, EUR 1.9 billion has been mobilized from 37 partners across 26 countries, demonstrating significant international interest in supporting Ukrainian energy.

The Energy Support Fund has become one of the key instruments for attracting international assistance. Its structure includes independent administration, competitive procurement, and direct equipment delivery to companies, ensuring transparency and accountability for each contribution. The Ministry of Energy stressed that such mechanisms allow for the effective use of resources dedicated to the restoration of energy infrastructure.

First Deputy Prime Minister of Energy Denys Shmyhal also reported on a constructive dialogue with Artur Lorkovsky, the director of the Energy Community Secretariat. Shmyhal emphasized the necessity of maximizing resource mobilization and expediting procurement through the Energy Support Fund. He noted that critically needed equipment must be in Ukraine and ready for operation by the end of October.

As part of this initiative, the parties are collaboratively working on additional mechanisms for direct or expedited procurement within the Fund, while also continuing active cooperation with donors. Shmyhal highlighted that the Fund is prepared to reallocate over EUR 195 million of donor funds to address urgent needs, and teams are already compiling a list of immediate requests.

Currently, energy equipment valued at over EUR 200 million is already en route. With the support of the Fund, 15 projects have been financed, amounting to a total of EUR 225.1 million, which have led to the commissioning of 223.9 MW of energy capacity, while an additional 303.7 MW is at various stages of readiness. This reflects the active development of the energy sector and the ongoing efforts aimed at its restoration and modernization.