Energy

Monday, July 22

Slovakia threatens to suspend the supply of petroleum products to Ukraine over sanctions against Russian Lukoil.

Slovakia threatens to suspend the supply of petroleum products to Ukraine over sanctions against Russian Lukoil. Slovak Prime Minister Robert Fico spoke over the telephone with his Ukrainian counterpart Denys Shmyhal, during which he criticized the inclusion of the Russian company Lukoil, whose oil is also used ...

A large fertilizer producer has built its own 30 MW power generation plant and loaded production at 100%.

A large fertilizer producer has built its own 30 MW power generation plant and loaded production at 100%. Rivneazot has completed the construction of its electricity generation facility, and 100% loading of production capacities has been achieved. The enterprise can now produce up to 30 MW/h of electricit...

The EU will provide Ukrenergo a €100M grant for the energy system’s restoration and protection.

The EU will provide Ukrenergo a €100M grant for the energy system’s restoration and protection. State energy company Ukrenergo and the German State Development Bank KfW in Ukraine signed a €100M grant agreement. It is noted that the EC authorized KfW to direct the funds from the special EU budge...

Friday, July 19

The world’s energy consumption from all sources is increasing.

The world’s energy consumption from all sources is increasing. The Energy Institute (EI) has released its annual World Energy Statistical Review, which for the first time presents comprehensive global energy data for 2023. The analysis showed that: Total primary ...

Thursday, July 18

The EBRD provides €200M to strengthen Ukraine’s energy security and will help increase the number of Ukrainian projects that are ready to attract foreign investment.

The EBRD provides €200M to strengthen Ukraine’s energy security and will help increase the number of Ukrainian projects that are ready to attract foreign investment. €200M from EBRD will support Naftogaz of Ukraine in creating strategic reserves of natural gas and supporting energy security. The corresponding guarantee agreement was signed by the Minister of Finan...

The largest shopping mall in Ukraine and Eastern Europe switches to imported electricity to stabilize its operations.

The largest shopping mall in Ukraine and Eastern Europe switches to imported electricity to stabilize its operations. Against the background of the difficult situation with the country’s energy system, the Respublika Park shopping center switched to using imported electricity. Earlier, the Gulliver shopping cen...

Wednesday, July 17

Ukrainians will have to live with blackouts for a long time: there is a lack of time and money to restore generation.

Ukrainians will have to live with blackouts for a long time: there is a lack of time and money to restore generation. The Economist notes the difficult situation: “There is too little time left and too few billions of dollars needed to install several hundred small power plants, restore bombed-out facilities, o...

Ukraine has increased gas production to a record level; there will be enough fuel in storage for new gas generation.

Ukraine has increased gas production to a record level; there will be enough fuel in storage for new gas generation. In six months, state company Ukrgazvydobuvannya set another record for gas production with 6.9 billion cubic meters of commercial gas, which is 8.8% more than in the same period last year. According t...

Tuesday, July 16

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

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 Osc...

Monday, July 15

Ukrenergo will purchase electricity from businesses investing in distributed generation.

Ukrenergo will purchase electricity from businesses investing in distributed generation. State company Ukrenergo will buy electricity in advance from businesses building distributed generation facilities, even those under construction, said Chairman of the Management Board Volodymyr Kudry...

DTEK Renewables has prolonged its green Eurobond payments and received support for constructing the second stage of the Tyligulska wind farm.

DTEK Renewables has prolonged its green Eurobond payments and received support for constructing the second stage of the Tyligulska wind farm. DTEK Renewables Finance B.V. successfully negotiated with its investors, and they agreed to extend payments on green Eurobonds for three years – from November 2024 to November 2027. The bondholders al...

Tuesday, July 9

Ukraine has lost the capacity of Europe’s largest nuclear power plant for a decade.

Ukraine has lost the capacity of Europe’s largest nuclear power plant for a decade. The Zaporizhia nuclear power plant will be able to be restarted only seven to eight years after liberation, as it depends on the reconstruction of the Kakhovka hydroelectric power plant, said Prime Mi...

Poland is ready to produce electricity for Ukraine at its TPPs.

Poland is ready to produce electricity for Ukraine at its TPPs. Polish Prime Minister Donald Tusk proposed using Polish coal-fired power plants to generate energy for Ukraine’s needs. “Currently, we are working to burn Polish coal, which we currently h...

Monday, July 8

Ukraine, Moldova, and Romania are developing energy security guarantees for Ukraine and Europe.

Ukraine, Moldova, and Romania are developing energy security guarantees for Ukraine and Europe. According to a joint statement from the three heads of foreign affairs, the countries plan to increase the capacity of the Trans-Balkan gas route as part of the vertical gas corridor, including develo...

The war is accelerating Ukraine’s transition to renewable energy sources.

The war is accelerating Ukraine’s transition to renewable energy sources. By continuously attacking Ukraine’s energy sector for two years, Russia has inadvertently accelerated the country’s transition to ecologically friendly energy sources. Due to Russian airst...

Ukraine can produce up to 10 billion cubic meters of biogas annually if $20B is invested in the industry.

Ukraine can produce up to 10 billion cubic meters of biogas annually if $20B is invested in the industry. The head of the Ministry of Agrarian Policy, Taras Vysotskyi said: “Ukraine can potentially produce up to 10 billion cubic meters of gas per year from available waste, but this would require a f...

Ukrnafta received applications from six foreign companies for the joint development of 15 fields.

Ukrnafta received applications from six foreign companies for the joint development of 15 fields. Ukraine’s largest oil and gas mining company, Ukrnafta, received a letter of intent from six companies regarding the joint development of 15 fields out of the 21 it had proposed for investment i...

Friday, July 5

Russia seeks to maintain gas transit to the EU through Ukraine, but Kyiv is against it, although several EU states are interested.

Russia seeks to maintain gas transit to the EU through Ukraine, but Kyiv is against it, although several EU states are interested. Russia wants to continue supplying gas to the EU through Ukraine’s gas transport system after the current transit contract expires at the end of the year, Russian Deputy Prime Minister Oleksandr...

Despite the war, Piraeus Bank continues to show long-term dedication to Ukraine by supporting the rebuilding of energy infrastructure.

Despite the war, Piraeus Bank continues to show long-term dedication to Ukraine by supporting the rebuilding of energy infrastructure. Piraeus Bank joined 17 leading financial institutions by signing a memorandum in Kyiv on bank lending for rebuilding energy infrastructure projects in the war-torn country. This pivotal step reaffirms...

Ukraine is building only 20% of the declared 1 GW energy maneuvering capacity.

Ukraine is building only 20% of the declared 1 GW energy maneuvering capacity. Energy experts have estimated that currently, Ukrainian cities are building at most 20% of the 1 GW of maneuvering energy capacity recently announced by Ukraine’s president. Currently, about 150...

Thursday, July 4

Ukrnafta will receive a loan from the EBRD and invest $1B in constructing power plants to become a multi-energy company.

Ukrnafta will receive a loan from the EBRD and invest $1B in constructing power plants to become a multi-energy company. Ukrnafta CEO Serhiy Koretskyi said that the company plans to build gas piston installations with a capacity of at least 1,000 MW. For this, the company will use its own funds and borrow funds from Ukr...

Wednesday, July 3

DTEK Renewables will pledge the largest solar plant in Ukraine as €325M in Eurobond collateral.

DTEK Renewables will pledge the largest solar plant in Ukraine as €325M in Eurobond collateral. DTEK Renewables Finance B.V., a member of the DTEK group, is asking Eurobond owners for €325M to postpone their repayment for three years (until November 12, 2027), the company reported on the Irish S...

Friday, June 28

Ukraine will install up to 1 GW of gas-fired distributed generation urgently, and DTEK Energy will direct all funds to restore TPPs.

Ukraine will install up to 1 GW of gas-fired distributed generation urgently, and DTEK Energy will direct all funds to restore TPPs. It is realistic to install up to 1 GW of gas-fired power generation in Ukraine, according to Deputy Minister of Energy Mykola Kolisnyk. “Several tens of megawatts have already been installed, an...

Regions of Ukraine are becoming energy-independent: a waste incineration plant for electricity production will be built in Odesa, and 10 gas power plants will be installed in Transcarpathia.

Regions of Ukraine are becoming energy-independent: a waste incineration plant for electricity production will be built in Odesa, and 10 gas power plants will be installed in Transcarpathia. The Odesa City Council approved the development of a land management project for the allocation of a 4-hectare plot of land to the municipal enterprise “Heat Supply of the City of Odesa” f...

Thursday, June 27

The government has approved an energy development plan that is required to join the EU.

The government has approved an energy development plan that is required to join the EU. The Cabinet of Ministers approved the National Energy and Climate Plan (NECP) for the period until 2030. The plan coordinates environmental, energy, and economic policies for Ukraine’s sustainab...

How do Ukraine’s strikes on refineries affect the aggressor’s oil refining capacity and budget?

How do Ukraine’s strikes on refineries affect the aggressor’s oil refining capacity and budget? In May, the Russian government’s subsidies to its gasoline producers increased to ₽202B ($2.5B), and the amount keeps growing. Russian authorities are forced to pay these costs to curb the rise ...

Experts name the factors stopping investment in new wind power plants in Ukraine.

Experts name the factors stopping investment in new wind power plants in Ukraine. According to the head of the Ukrainian Wind Energy Association, Andriy Konechenkov, new distributed generation capacities can compensate for the loss of 10 GW of traditional energy capacities. As well...

Turning point: Ukraine has approved a regulatory framework to quicken investment in new power generation and energy storage facilities.

Turning point: Ukraine has approved a regulatory framework to quicken investment in new power generation and energy storage facilities. The National Commission for Regulation of the Energy Market (NERC) adopted a resolution to introduce special auctions for auxiliary services to provide frequency regulation and active power reserves i...

Wednesday, June 26

Ukraine owes green power generation investors about $711.2M.

Ukraine owes green power generation investors about $711.2M. The state enterprise Guaranteed Buyer is ₴28.9B ($711.19M) in arrears to renewable energy investors under its green tariff obligations. As reported by the state-owned enterprise, the debt is a consequ...

Kyiv plans to build two TPP plants to generate energy from burning garbage.

Kyiv plans to build two TPP plants to generate energy from burning garbage. Petro Panteleev, deputy head of the Kyiv city administration, said: “We must use all the ways and opportunities that will allow us to produce energy. This is what the Concept of Energy Sustainab...

Tuesday, June 25

IFC: Liberalization of energy prices is needed to unlock $97B in energy investment.

IFC: Liberalization of energy prices is needed to unlock $97B in energy investment. The top manager of the International Finance Corporation (IFC) of the World Bank Group, Ines Rocha, said: “Reforms in the energy sector, including the liberalization of energy prices, are of key...

During the war, Ukrainian power generation lost more than 40 GW of capacity.

During the war, Ukrainian power generation lost more than 40 GW of capacity. During the full-scale invasion, due to occupation and destruction, Ukraine has lost more than 40 GW of electricity generation capacity, said Yasno CEO Serhiy Kovalenko. He notes that Ukraine’s e...

Monday, June 24

Ukraine will additionally spend ₴759M to strengthen the stability of its energy system, and a cement producer will invest $15M in energy production.

Ukraine will additionally spend ₴759M to strengthen the stability of its energy system, and a cement producer will invest $15M in energy production. The government approved using state funds for decarbonization and energy-efficient transformation. This will occur through an additional ₴759M ($19M) program to support energy efficiency and strengthe...

Over 30 wind generation projects are being developed in Ukraine, including a 650 MW wind farm.

Over 30 wind generation projects are being developed in Ukraine, including a 650 MW wind farm. Artem Nekrasov, the Head of the state-owned enterprise Guaranteed Buyer, stated that: “More than 30 new wind generation projects are currently being built in Ukraine. Among the investors are Ukr...

Thursday, June 20

Restoration of one MW of generation capacity costs approximately $1M; Ukraine will require billions to restore its energy system.

Restoration of one MW of generation capacity costs approximately $1M; Ukraine will require billions to restore its energy system. Distributed power generation, said NBU Deputy Head Kateryna Rozhkova, that will be used to restore power generation capacities will cost Ukraine billions of dollars. She explained that restoring one M...

The EU’s 14th package of Russian sanctions targets shadow tankers, exports of liquefied gas, and dozens of people who support the war.

The EU’s 14th package of Russian sanctions targets shadow tankers, exports of liquefied gas, and dozens of people who support the war. The EU will introduce restrictions on 20 individuals and 22 legal entities in the latest package of sanctions against Russia. The EU has already issued 13 sanctions packages on Russia following its fu...

Wednesday, June 19

Ukraine will restore only 7% of its power generation needs by winter.

Ukraine will restore only 7% of its power generation needs by winter. Before the heating season, Ukraine can restore 200-250 MW of generation (or 7.1%) of the required 3.5 GW, said Oleksandr Kharchenko, director of the Energy Research Center. According to him, work is p...

Ukraine has great potential in solar energy, and the industry needs almost €5B in investment by 2030.

Ukraine has great potential in solar energy, and the industry needs almost €5B in investment by 2030. According to a study by Berlin Economics, in the years before the start of Russia’s full-scale aggression the share of solar energy in the total volume of Ukraine’s electricity production increa...

Tuesday, June 18

The EBRD will increase financing to restore Ukraine’s energy system and prepare for winter.

The EBRD will increase financing to restore Ukraine’s energy system and prepare for winter. EBRD President Odile Renaud-Basso said that the bank allocated €300M this month to help state energy companies repair facilities damaged by Russian shelling and build new decentralized energy faciliti...

Monday, June 17

The US announced $1.5B for Ukraine’s energy sector at the Peace Summit.

The US announced $1.5B for Ukraine’s energy sector at the Peace Summit. During a meeting with Volodymyr Zelenskyy in Switzerland, US Vice President Kamala Harris announced a new energy aid package to be provided by USAID and the State Department. In particular, USAID is p...

Friday, June 14

URC2024 results: G7+ will provide $1B in aid to Ukraine’s energy sector, and projects worth €16B announced at the conference.

URC2024 results: G7+ will provide $1B in aid to Ukraine’s energy sector, and projects worth €16B announced at the conference. At a high-level meeting of the G7+ Coordination Group on Aid to Ukraine’s Energy Sector in Berlin, Ukraine’s allies announced additional aid for Ukraine’s energy sector totaling more than ...

German and American companies will help build new distributed generation capabilities in Ukraine.

German and American companies will help build new distributed generation capabilities in Ukraine. Ukrnafta signed memorandums with Siemens Energy Global GmbH & Co. KG and Deutsche Bank to develop distributed electricity and heat generation in Ukraine. The first is a memorandum of understanding...

The US Department of State believes Ukraine can become a natural green energy bank for the EU.

The US Department of State believes Ukraine can become a natural green energy bank for the EU. US Assistant Secretary of State for Energy Resources, Geoffrey Pyatt, stated at the Ukraine Recovery Conference in Berlin: “We need to change the paradigm of how we see Ukraine’s energy fu...

Vitagro seeks €110M to increase its biomethane production capacity, and OKKO will build a biofuel plant with EBRD funds.

Vitagro seeks €110M to increase its biomethane production capacity, and OKKO will build a biofuel plant with EBRD funds. According to Vitagro, by 2030 35 million cubic meters of biomethane will be consumed in the EU. That is why the company invested €6M in a biomethane plant and plans to make additional investments with...

Thursday, June 13

Restoration of Ukraine’s energy system: What was agreed upon at URC2024?

Restoration of Ukraine’s energy system: What was agreed upon at URC2024? Ukrenergo signed a €15M grant agreement with the German state development bank, KfW. The company said the funds would be used to purchase critical equipment and restore high-voltage substations after ...

German companies are building wind and solar power plants in Ukraine, and the country urgently needs 5-6 GW of new generation.

German companies are building wind and solar power plants in Ukraine, and the country urgently needs 5-6 GW of new generation. The German company Notus Energy is implementing a 300 MW wind farm project in the Odesa region, the first stage of which will be 120 MW, the company’s top manager said at URC2024. The first phase of w...

Wednesday, June 12

Ukraine’s energy sector has lost $56B through the war.

Ukraine’s energy sector has lost $56B through the war. As a result of the Russian Federation’s full-scale invasion, Ukraine’s energy sector has suffered direct and indirect financial losses in the amount of $56.2B, while the cost of reconstruction, which ...

Tuesday, June 11

Ukraine plans to lease floating Turkish power plants to provide Odesa with 750 MW of generation capacity.

Ukraine plans to lease floating Turkish power plants to provide Odesa with 750 MW of generation capacity. Ukraine is negotiating with Turkey to place power plant ships in the key ports of Odesa and the Danube region to partially cover electricity shortages, said the head of the Odesa regional administrati...

Monday, June 10

Allies are investing in the restoration of Ukrainian energy and critical infrastructure.

Allies are investing in the restoration of Ukrainian energy and critical infrastructure. France will allocate €200M to enterprises that will invest in restoring Ukraine’s critical infrastructure, with €60M of these funds directed to the Ukrainian energy sector, French President Emma...

Ukrainian government and businesses are working to restore the energy facilities that was destroyed by the Russians.

Ukrainian government and businesses are working to restore the energy facilities that was destroyed by the Russians. As a result of shelling, Ukraine lost 50% of its power generation capacity. Prime Minister Denys Shmyhal noted that 42 thermal power units were destroyed, 27% of large TPPs are working, 73% are curren...

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