Denys Shmyhal: Ukraine short €950m for energy sector and ChNPP

Financial needs of the energy sector

Ukraine needs to attract an additional €950 million to support energy infrastructure and carry out repair works at the Chernobyl Nuclear Power Plant. This was stated by First Deputy Prime Minister – Minister of Energy Denys Shmyhal at a meeting with ambassadors of the Group of Seven (G7), the European Union and the NB8.

According to the official, almost €800 million has already been received by the Ukraine Energy Support Fund since the beginning of the year. However, in his opinion, a further €450 million is required, of which €100 million is allocated for the purchase of cables. An additional €500 million is needed to repair damage to the New Safe Confinement (NSC) at the ChNPP, which was caused by a Russian drone.

"Майже 800 млн євро надійшло до Фонду підтримки енергетики України від початку року. Вдячні за цю допомогу. Водночас маємо потребу ще у 450 млн євро, з яких 100 млн – на кабелі. Ще 500 млн євро необхідні для ремонту пошкодженого російським дроном Нового безпечного конфайнменту на Чорнобильській АЕС. Розраховуємо на підтримку в залученні відповідного фінансування", – повідомив міністр. (Almost €800 million has been received by the Ukraine Energy Support Fund since the beginning of the year. We are grateful for this support. At the same time, we have a need for another €450 million, of which €100 million is for cables. Another €500 million is required to repair the New Safe Confinement at the Chernobyl Nuclear Power Plant, which was damaged by a Russian drone. We count on support in attracting the relevant financing, – the minister said.)

Status of infrastructure protection

Denys Shmyhal noted that Russia has increased the intensity of strikes on energy facilities, but Ukraine has prepared for intensified shelling. Currently, key energy structures are protected by 235 second-level protection facilities.

According to statistics for the last six months, only one case of a ballistic missile hitting an object under such protection has been recorded.

Rapid restoration and human resources

Approximately 20,000 specialists are involved in restoration works. More than 8,000 tonnes of equipment have been transferred from hubs to communities. The Minister of Energy emphasised that such preparation allows damaged facilities to be restored in days, not months.

Reforms and integration into international structures

During the meeting with diplomats, the minister also informed them about reforms in the energy sector. Ukraine is updating the governing bodies of state energy companies in accordance with the principles of the Organisation for Economic Co-operation and Development (OECD). In addition, the modernisation of legislation for integration with the EU is ongoing, as well as the development of renewable and decentralised generation.

In addition, Ukraine has begun the process of joining the OECD Nuclear Energy Agency. This is one of the steps towards full membership in the Organisation.

Denys Shmyhal thanked partners for their current support and expressed hope for the continuation of assistance to strengthen the country's energy resilience ahead of the winter period.