Restoration of Ukraine's energy sector: 12 agreements signed at conference in Berlin

Restoration of Ukraine's energy sector: 12 agreements signed at conference in Berlin

At the Ukraine Recovery Conference 2024 in Berlin, Ukraine has signed 12 cooperation agreements with financial institutions and energy companies.

That’s according to Ukraine’s Ministry of Energy, Ukrinform reports.

"The key goal is to develop generation and networks, which is extremely important for the restoration of energy facilities following Russian attacks," the statement said.

In particular, the Memorandum of Understanding with Siemens Energy AG is important for the introduction of energy-efficient technologies, decentralized power generation and increased use of renewable energy sources. Siemens Energy AG and Ukraine's Naftogaz have agreed to cooperate in the field of decarbonization and gas storage.

Siemens Energy Global will cooperate with PJSC Ukrnafta to develop new combined heat and power projects based on combined cycle turbine technology. Ukrnafta has also signed an agreement with Deutsche Bank AG to finance the development of gas-fired and combined-cycle power plants.

The memorandum with GOLDBECK SOLAR Investment GmbH provides for the development of 500 MW of solar panels, and with NOTUS Energy Invest Ukraine - the development of 120 MW of wind generation.

Ukraine also signed the Memorandums of Understanding with Voith Hydro on the construction of new hydroelectric power plants by Ukrhydroproject and the reconstruction of destroyed ones, and with the Swedish Development Financial Institution on the use of biomass-based gas and steam turbines.

In addition, a joint declaration was signed with the German Chamber of Commerce and Industry, which is important for the transition to green energy and ensuring the stability of the Ukrainian energy sector. Agreements were reached with Germany to provide a EUR 30.4 million loan through KfW to support Ukraine's energy infrastructure.

The Norwegian-Ukrainian energy partnership was also launched on the sidelines of the conference.

As reported, the Ministry of Economy presented 95 investment projects during the Ukraine Recovery Conference 2024 in Berlin.

Photo: Ministry of Energy


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