The construction of one GW of power generation will cost $700M, and Ukraine needs to attract international financing for energy projects.

“Investment projects for the construction of one GW of electricity will cost from $700M using gas piston or gas turbine technologies and up to $1.5M for, for example, wind power,” said Oschadbank’s top manager. “We need to build 8-9 GW.”

Ukraine’s entire banking system will only be able to finance a part of these projects simultaneously in a short timeframe. Therefore, it is essential to attract the help of international partners, particularly the EBRD and the EIB. Currently, Oschadbank is considering alternative generation projects for more than 500 MW – i.e., half of the amount announced by President Zelenskyy.

According to bankers, the deficit in the energy system will exist for at least one or two years. Therefore, options must be found that allow businesses to move from temporary means of survival to sustainable solutions. “The focus of the big banks will be primarily on rebuilding the destroyed nine GW of capacity,” the bank’s management emphasized.