Energy

Tuesday, July 22

Ukraine is facing an electricity shortage as efforts are ongoing to restore capacity and build new distributed generation.

Ukraine is facing an electricity shortage as efforts are ongoing to restore capacity and build new distributed generation. Due to hot weather and scheduled repairs at nuclear power plants – work is being done on three of the nine existing units – an electricity shortage has emerged in Ukraine, said Volodymyr Omelchenko, d...

Ukraine’s State Agency for Energy Efficiency and two national banks are launching a program to lower loan costs for energy projects.

Ukraine’s State Agency for Energy Efficiency and two national banks are launching a program to lower loan costs for energy projects. The State Agency for Energy Efficiency, along with Ukrgasbank and Sense Bank, are starting a new initiative to reduce the cost of loans for the implementation of energy-efficient solutions, modernizin...

Monday, July 21

The World Bank will provide Ukraine with a $116M grant to restore heat supply in war-affected communities.

The World Bank will provide Ukraine with a $116M grant to restore heat supply in war-affected communities. Additionally, it will offer another $116M to strengthen the energy resilience of areas impacted by Russian attacks. The funds will be used to repair heat systems in cities where critical infrastructur...

DTEK is developing new wind farms with a capacity of 1,150 MW and has invested ₴4B in repairing thermal power plants.

DTEK is developing new wind farms with a capacity of 1,150 MW and has invested ₴4B in repairing thermal power plants. DTEK’s CEO, Maksym Timchenko, said: “We are currently building onshore wind farms with a capacity of 500 MW – there are no such projects of this scale in Europe. We are also preparing a pr...

Wednesday, July 16

The EBRD will provide €21.1M for a distributed generation project in Ukraine and may invest in a wind farm that OKKO plans to build in 2026.

The EBRD will provide €21.1M for a distributed generation project in Ukraine and may invest in a wind farm that OKKO plans to build in 2026. The European Bank for Reconstruction and Development (EBRD), investment firm Dragon Capital, and energy company Negen have signed an agreement stating that the EBRD will offer €21.1M in loan financing...

Tuesday, July 15

The EU has agreed on a price cap for Russian oil as part of its 18th sanctions package.

The EU has agreed on a price cap for Russian oil as part of its 18th sanctions package. EU ambassadors are close to finalizing this package, which will include a lower price limit for Russian oil. Currently, EU countries have agreed on a dynamic mechanism to limit the price of Russian oi...

Monday, July 14

Ukraine is set to launch one of Eastern Europe’s largest energy storage systems.

Ukraine is set to launch one of Eastern Europe’s largest energy storage systems. DTEK and Fluence, a global leader in energy storage, have announced the early deployment of this project. The 200 MW system, spanning six locations, is in its final phase, including commissioning, tes...

Friday, July 11

During the war, Ukraine has commissioned 258 MW of new wind farms, with 50% financed by international investors.

During the war, Ukraine has commissioned 258 MW of new wind farms, with 50% financed by international investors. The country is building over 700 MW of wind capacity and more than 200 MW of energy storage systems (BESS), said Andriy Konechenkov, Chairman of the Ukrainian Wind Energy Association (UWEA) at URC2025...

Thursday, July 10

The former head of Ukrenergo and Dragon Capital is launching a new project in Ukraine to build 150 MW of energy capacity at a cost of $30M.

The former head of Ukrenergo and Dragon Capital is launching a new project in Ukraine to build 150 MW of energy capacity at a cost of $30M. Volodymyr Kudrytskyi, the ex-head of state energy company Ukrenergo, along with entrepreneur Andriy Nemyrovskyi and Dragon Capital, which is led by Tomasz Fiala, are developing an energy project that ...

Electricity prices in Ukraine will stay high until 2030.

Electricity prices in Ukraine will stay high until 2030. Former Ukrenergo head Volodymyr Kudrytskyi predicts that Ukraine’s energy market won’t be fully saturated until then. Saturation isn’t just about avoiding shortages; it also involves...

Tuesday, July 8

A state bank finances the construction of a solar power plant and an energy storage facility in Western Ukraine.

A state bank finances the construction of a solar power plant and an energy storage facility in Western Ukraine. State bank Oschadbank signed a €10.8M investment loan agreement with the Elios Luchki company, from the Helios Strategia group, to fund the construction of a solar power plant with an installed capaci...

Monday, July 7

Russia is expanding its shadow fleet, but sanctions against the aggressor are slowing it down.

Russia is expanding its shadow fleet, but sanctions against the aggressor are slowing it down. The number of tankers in Russia’s shadow fleet has increased from fewer than 100 in early 2022 to about 300-600 in early 2025, depending on the classification method, according to a report by Dr...

Friday, July 4

Ukraine will be able to increase its electricity exports to the EU by almost 40%.

Ukraine will be able to increase its electricity exports to the EU by almost 40%. The European Network of Transmission System Operators for Electricity, ENTSO-E, has raised the maximum electricity export capacity from Ukraine and Moldova to EU countries by 250 MW, bringing it to 90...

Wednesday, July 2

The Agreement That Will Create a New Country: What Economic Prospects Does Ukraine’s Mineral Agreement with the United States Present?

The Agreement That Will Create a New Country: What Economic Prospects Does Ukraine’s Mineral Agreement with the United States Present? In early May 2025, First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko signed a historic agreement with the United States of America that established a reconstruction investment fund ...

Gas injection into underground storage facilities is 20% behind last year’s rate, but Ukraine is increasing the pace.

Gas injection into underground storage facilities is 20% behind last year’s rate, but Ukraine is increasing the pace. Natural gas reserves in Ukrainian underground gas storage facilities (UGS) exceeded eight billion cubic meters as of June 28. These facilities are now at 25.9% of their capacity. Compared to last year...

Tuesday, July 1

Europe has stopped importing Russian oil, but gas remains a challenge.

Europe has stopped importing Russian oil, but gas remains a challenge. Polish oil refinery Orlen will cease buying Russian oil for its Czech refinery after June 30, according to CEO Ireneusz Fafara. “Today we have freed Central Europe from Russian oil,” he st...

How much Russian gas is passing through Turkey to Europe?

How much Russian gas is passing through Turkey to Europe? It has been six months since Ukraine finally discontinued the transit of Russian gas to Europe. However, the EU is still buying Russian fuel in significant quantity. Between January and June this year...

Gas for industry: What are the prospects for the domestic market?

Gas for industry: What are the prospects for the domestic market? Due to Russian missile attacks on gas production infrastructure, Ukraine has lost up to 40% of its domestic production. Therefore, to ensure a sufficient supply of gas before the heating season, it wi...

Friday, June 27

Large businesses in Ukraine have increased their investments in energy storage facilities.

Large businesses in Ukraine have increased their investments in energy storage facilities. Currently, 75% of the lending for large business projects that are underway at Ukrainian banks involves energy storage facilities (ESF), indicating strong investor demand for this technology amid decl...

Thursday, June 26

Khmelnytskyi plans to build a 10 MW waste-fired CHP plant.

Khmelnytskyi plans to build a 10 MW waste-fired CHP plant. Deputy Mayor Vasyl Novachok reported that the city aims to develop a thermal power plant that will operate on RDF fuel composed from waste. Preliminary estimates suggest the future CHP will produce tw...

Wednesday, June 25

Israel and Iran agree to a ceasefire. How did energy markets respond?

Israel and Iran agree to a ceasefire. How did energy markets respond? Oil prices dropped sharply after US President Donald Trump announced a ceasefire between Israel and Iran (although it was soon broken), which alleviated concerns about disruptions in the supply of ...

Ukraine intends to expand its presence in the EU biomethane market.

Ukraine intends to expand its presence in the EU biomethane market. Representatives from Ukraine’s Ministry of Energy and an EU delegation discussed integrating Ukraine’s gas transmission system into the European Database (UDB). This integration will open ...

Tuesday, June 24

What is holding back the growth of wind and solar power in Ukraine?

What is holding back the growth of wind and solar power in Ukraine? Despite the benefits of wind energy, its development in Ukraine remains limited by tax pressures, said Volodymyr Omelchenko, Director of Energy Programs at the Razumkov Center, stressing the need to e...

DTEK and Octopus Energy Group launch a €100M program to install solar power systems for businesses.

DTEK and Octopus Energy Group launch a €100M program to install solar power systems for businesses. Ukrainian private energy company DTEK and London-based global clean energy technology firm Octopus Energy Group are rolling out a new program, RISE, to install rooftop solar panels and energy storage ...

Monday, June 23

The US attacked three nuclear facilities in Iran, forcing oil prices to soar to $100 per barrel, but this will not benefit Russia.

The US attacked three nuclear facilities in Iran, forcing oil prices to soar to $100 per barrel, but this will not benefit Russia. US President Donald Trump stated that on the night of June 22, US aircraft targeted three nuclear sites in Iran – in Fordow, Natanz, and Isfahan. He specified that the operation was intended to elimin...

Wednesday, June 18

The conflict between Iran and Israel has made it more challenging for the EU to lower the price cap on Russian oil.

The conflict between Iran and Israel has made it more challenging for the EU to lower the price cap on Russian oil. Last week, the European Commission included a proposal in the draft of its Russian sanctions package to lower the price cap on oil from the current $60 per barrel to $45. Some member states that suppo...

Germany has no plans to launch Russia’s Nord Stream, despite American efforts.

Germany has no plans to launch Russia’s Nord Stream, despite American efforts. The German government does not intend to restart the Nord Stream 1 gas pipeline, used to transport Russian gas, or to launch Nord Stream 2, said Deputy Government Spokesperson Sebastian Hille. This st...

The EC has approved a plan to completely abandon Russian gas and oil.

The EC has approved a plan to completely abandon Russian gas and oil. The European Commission has approved a legislative proposal that outlines a gradual phase-out of Russian gas and oil imports into the EU by the end of 2027, with the goal of enhancing the bloc’s...

Tuesday, June 17

The EU will not lower the price ceiling for Russian oil without G7 support.

The EU will not lower the price ceiling for Russian oil without G7 support. The bloc will not independently reduce the price ceiling for Russian oil from $60 to $45 per barrel, as this initiative is unlikely to gain support from the G7 countries. The proposal to lower the pri...

Monday, June 16

The G7 nations are set to reduce the price ceiling for Russian oil to $45 per barrel, without Trump’s approval.

The G7 nations are set to reduce the price ceiling for Russian oil to $45 per barrel, without Trump’s approval. The EU and its G7 allies seek to gain the US’ consent to lower the ceiling price for Russian oil from $60 to $45 per barrel at the summit planned for June 15-17 in Canada, according to EU Special Repr...

The EU will prohibit European terminals from receiving LNG from Russia and will enhance control over European energy companies.

The EU will prohibit European terminals from receiving LNG from Russia and will enhance control over European energy companies. The European Commission plans to ban liquefied natural gas terminals in the EU from providing services to Russian companies starting January 1 2026. A transition period has been established for existi...

Ukrainian businesses from multiple industries continue to invest in green energy.

Ukrainian businesses from multiple industries continue to invest in green energy. The Poltava oil extraction plant of the Kernel agricultural holding has transitioned to renewable energy sources certified by international organization Bureau Veritas Group. The company will fully pr...

Thursday, June 12

Sanctions have caused Russian oil and gas companies’ profits to drop by 50% in the past year, with refinery profitability approaching zero.

Sanctions have caused Russian oil and gas companies’ profits to drop by 50% in the past year, with refinery profitability approaching zero. Rosstat reports that in the first quarter of 2025, net profit for these companies fell by nearly half. Within three months, Russian oil and gas firms, which account for 33% of the budget, generated ₽7...

Ukraine and the EBRD are working together on nine energy projects.

Ukraine and the EBRD are working together on nine energy projects. Ukraine’s Minister of Finance, Serhiy Marchenko, and Mark Bowman, VP of the EBRD, have agreed to continue these initiatives, which are aimed at strengthening Ukraine’s energy security. Dur...

The Turkish Onur Group is set to invest $450M to establish 690 MW of generation capacity in Ukraine by 2030.

The Turkish Onur Group is set to invest $450M to establish 690 MW of generation capacity in Ukraine by 2030. The company has announced its intention to develop this new generation capacity in the country, building on their existing 150 MW of solar power plant capacity, which was constructed prior to the war ...

Wednesday, June 11

$Ukraine is seeking private investors for natural gas fracking on a revolutionary scale.$

Ukraine is seeking private investors for natural gas fracking on a revolutionary scale. The Ministry of Energy is leveraging Ukraine’s diplomatic ties to find private investment funds to finance drilling and attract technological partners. During an energy forum in Azerbaijan, gove...

In 2024, Ukraine nearly reached its bioethanol export quota to the EU for the first time.

In 2024, Ukraine nearly reached its bioethanol export quota to the EU for the first time. The Customs Committee of the Verkhovna Rada indicated that Ukraine exported 99,300 tons of bioethanol last year, with 62% sourced from private facilities, three of which contributed to 38% of the tota...

Tuesday, June 10

During the war, over 20 countries have continued to buy Russian fossil fuels, with China the largest importer.

During the war, over 20 countries have continued to buy Russian fossil fuels, with China the largest importer. As of June 2025, according to CREA, despite sanctions, energy claims, and reputational risks, more than 20 countries still actively import Russian fossil fuels following the onset of the Russian Feder...

A wind power plant developer seeks to secure funding from small investors for project execution.

A wind power plant developer seeks to secure funding from small investors for project execution. Wind Parks of Ukraine intends to raise money from these investors to build wind power facilities, according to CEO Vladyslav Yeremenko. “Our group is actively pursuing this goal and we are worki...

Monday, June 9

Clean energy investment will account for 66% of global energy investment this year.

Clean energy investment will account for 66% of global energy investment this year. Global energy investment is projected to reach a record $3.3T in 2025, with clean energy making up more than $2.2T, according to the IEA. Despite geopolitical instability and economic uncertainty, tot...

State company Ukrhydroenergo is set to rebuild the Kakhovka HPP, with a five-year timeline.

State company Ukrhydroenergo is set to rebuild the Kakhovka HPP, with a five-year timeline. The company is preparing to restore the Kakhovka HPP, which was damaged by Russian forces on June 6 2023, immediately following the recapture of the territory, as stated by company head Bohdan Sukhets...

Friday, June 6

Eco-Optima is investing €110M in another 100 MW wind farm in the west of Ukraine.

Eco-Optima is investing €110M in another 100 MW wind farm in the west of Ukraine. The land plot for this wind farm has already been leased from the city council near Belz in the Lviv region. The project has been in preparation for five years and is expected to generate up to 100 MW...

Thursday, June 5

In Volyn, plans are underway to establish the country’s first hydrogen plant focused on exporting products to the EU.

In Volyn, plans are underway to establish the country’s first hydrogen plant focused on exporting products to the EU. Austrian energy firm Wien Energie, alongside Ukrainian UDP Renewables, aims to develop an industrial green cluster in Volyn featuring the hydrogen production facility. If realized, this initiative wil...

Wednesday, June 4

DTEK has secured a record loan for the construction of one of the largest energy storage complexes in Eastern Europe.

DTEK has secured a record loan for the construction of one of the largest energy storage complexes in Eastern Europe. DTEK has reached an agreement with a consortium of Ukrainian banks led by Oschadbank for this unprecedented financing aimed at modern energy storage systems in Ukraine. Three Ukrainian banks – Oschadb...

Monday, June 2

OPEC+ will once again increase oil production, allowing Western firms to increase shipments of Russian crude.

OPEC+ will once again increase oil production, allowing Western firms to increase shipments of Russian crude. Earlier this year, the Western energy sector began to consider how it might carefully return to Russia if peace is reached in Ukraine. Due to falling oil prices, Greek vessels transported 26% of Russi...

Friday, May 30

Four European countries will assist Ukraine in building up gas reserves for the winter.

Four European countries will assist Ukraine in building up gas reserves for the winter. The gas transmission system operators of Bulgaria, Greece, Moldova, Romania, and Ukraine have created a plan that will supply US liquefied natural gas from Greece to Ukraine via the Trans-Balkan Corri...

Wednesday, May 28

Gas prices in Ukraine have risen to a record high, surpassing European prices. Kyiv is preparing for imports through a new route via Greece.

Gas prices in Ukraine have risen to a record high, surpassing European prices. Kyiv is preparing for imports through a new route via Greece. On May 26, natural gas prices in the Ukrainian market reached ₴23,000 per 1,000 cubic meters (including VAT). The cost of gas has climbed to the highest level in over two years and exceeded European m...

The EU will spend more to purchase Russian raw materials and energy resources than on military aid to Ukraine.

The EU will spend more to purchase Russian raw materials and energy resources than on military aid to Ukraine. Despite the current 17 EU sanctions packages, in 2025 Russia is projected to receive about $233B from the export of raw materials and energy resources and more than $20B from EU countries alone. ̶...

Tuesday, May 27

Ukraine has increased its gas reserves by more than 1 billion cubic meters and is exploring imports through the Trans-Balkan Corridor.

Ukraine has increased its gas reserves by more than 1 billion cubic meters and is exploring imports through the Trans-Balkan Corridor. Between April 17 and May 24 2025, 1.06 billion cubic meters of natural gas were added to Ukraine’s underground storage, slightly surpassing last year’s amount during the same timeframe. Al...

Ukraine’s share of green energy is projected to grow by nearly 100% by 2040.

Ukraine’s share of green energy is projected to grow by nearly 100% by 2040. Balint Silhavy, a senior expert at Boston Consulting Group, anticipates that the contribution of renewable sources to Ukraine’s electricity production will rise from 15% in 2022 to 28% in 2040, ...

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