URC 2025: energy sector will receive over a billion euros
Donor countries will transfer another 240 million euros to the URC 2025 Energy Support Fund, which will be used to purchase equipment and restore critical infrastructure facilities after attacks
Energy was one of the key sectors at the Ukraine Recovery Conference – URC 2025, which took place in Rome on July 10-11.
This is stated in a statement by the Ministry of Energy of Ukraine.
As a result of the multilateral meetings, financial agreements in the energy sector worth over 1.2 billion euros have been secured. These include the development of nuclear generation, hydropower, oil and gas exploration and production projects, training programs, mechanisms for supporting and developing renewable energy sources, etc.
Donor countries will allocate an additional 240 million euros to the URC 2025 Energy Support Fund, which will be used to purchase equipment and restore critical infrastructure facilities after enemy strikes.
The Ministry of Energy of Ukraine, Ukrainian state and private energy companies have signed more than 30 agreements, memorandums, and joint statements with international partners that strengthen the country's energy security, accelerate post-war reconstruction, and deepen integration into the European energy space, the department said in a statement.
Important agreements were reached regarding strengthening energy security and the next heating season in wartime conditions, which are not disclosed for security reasons.
In particular, a memorandum was signed with the IAEA, which will act as a guarantor of safety during the completion of the construction of additional units of the Khmelnytskyi NPP. In addition, support for the exploration, extraction and production of uranium resources in Ukraine has been secured. This will strengthen Ukraine's energy independence and allow it to use existing resources to develop its own generation.
An important direction is nuclear fuel diversification. Ukraine has agreed to obtain a license from Westinghouse, which will allow it to use the design and technology for the production of VVER-1000 fuel assemblies. The potential introduction of Holtec small modular reactors is also envisaged.
Projects for the development of gas infrastructure, LNG transportation, and exploration of opportunities for geothermal energy and CCS technologies are supported. Specific steps towards decarbonization are also noted - preparation of an emissions reduction strategy and pilot projects for converting thermal power plants to biomass.
A large-scale initiative with UNDP has been launched, aimed at a "green" recovery, transformation of Ukraine's energy sector, and support for the Ukrainian energy industry, which involves both an operational response to the current crisis and long-term modernization in accordance with national priorities.
Separate memoranda and agreements are aimed at strengthening international technical and financial assistance. Among them is financing the rehabilitation and modernization of a number of CHP plants.
Important agreements have been signed in the field of hydropower, which will contribute to strengthening the stability and flexibility of Ukraine's power system, the ability to quickly regulate loads, as well as increasing the share of green energy. In particular, these are agreements with the European Investment Bank (EIB), Webuild (Italy) and Voith Hydro (Germany).
The Ministry of Energy notes that the launch of mechanisms to reduce the risks of investments in renewable energy, projects for the construction of new wind power plants, and green recovery programs with an emphasis on energy efficiency and emission reduction have been announced.
Significant focus is placed on cooperation with leading European companies such as Terna, Siemens, Baker Hughes, Snam, which will contribute to increasing the reliability, digitalization and sustainability of the Ukrainian power system. These agreements are a guarantee that the Ukrainian power system will become more flexible and resistant to attacks and will be able to confidently integrate into the European market.
Each of the concluded agreements reflects our vision of transformation, contributes to strengthening Ukraine's energy sustainability and its integration into the European energy system, the Ministry of Energy notes.
As reported by "Ukrainian Energy", Zelensky stressed that in order to get through the next winter, we must work together. The President spoke at the opening of the International Conference on the Reconstruction of Ukraine URC 2025 in Rome, where he called for the formation of a Recovery Coalition, the development of a clear reconstruction plan, and the creation of a fund.
