Energy

Friday, June 7

This year, the world will invest $2T in clean energy, 100% more than fossil fuel spending.

This year, the world will invest $2T in clean energy, 100% more than fossil fuel spending. This year, global investment in clean energy technology and infrastructure will reach $2T, twice as much as in fossil fuels, according to a report by the International Energy Agency (IEA). Also, the t...

The Ukrainian leader in biogas energy generation is unable to restore operations at three TPPs using biomass.

The Ukrainian leader in biogas energy generation is unable to restore operations at three TPPs using biomass. The Clear Energy group of companies, which is engaged in the construction and operation of bio-thermal power plants, wind turbines, and thermal power plants, never managed to put its biomass thermal p...

Ukraine lost $11B in the terrorist act at the Kakhovka HPP; reconstruction of the dam will take up to seven years.

Ukraine lost $11B in the terrorist act at the Kakhovka HPP; reconstruction of the dam will take up to seven years. The Russians caused $11B in damage to Ukraine when it blew up the Kakhovka HPP, which occurred on June 6, 2023. About 100,000 Ukrainians and 140,000 residents of the region were affected by the dam...

UZ plans to build a gas generation plant with a capacity of 250 MW.

UZ plans to build a gas generation plant with a capacity of 250 MW. The state company Ukrainian Railways (UZ) plans to build gas power plants with a total capacity of 250 MW in various regions. UZ is among the five largest distribution companies in the country in term...

Thursday, June 6

Russia has taken out 35 GW of Ukraine’s electricity generation capability since the beginning of the war.

Russia has taken out 35 GW of Ukraine’s electricity generation capability since the beginning of the war. So far, the Russian Federation has destroyed over 60% of Ukraine’s electricity production in over two years, decreasing generation from 55 to 20 GW. Currently, Ukrainian energy companies limit electri...

Where will Ukrainian energy companies direct ₴50B in revenue from increased electricity tariffs?

Where will Ukrainian energy companies direct ₴50B in revenue from increased electricity tariffs? Analysts have calculated that the increase in consumer electricity prices will generate an additional ₴50B for state energy companies Energoatom and Ukrhydroenergo in 2024. The tariff increase will al...

The EBRD will provide Ukraine with €300M to restore energy infrastructure and construct new decentralized generation.

The EBRD will provide Ukraine with €300M to restore energy infrastructure and construct new decentralized generation. Ukraine and the EBRD signed a memorandum under which the European Bank will provide €300M to support Ukraine’s energy sector. “This support will help to fulfill our goal – to ensure ...

While Russia recovers from the loss of the EU gas market, Turkey is expanding its gas pipeline’s capacity to Europe.

While Russia recovers from the loss of the EU gas market, Turkey is expanding its gas pipeline’s capacity to Europe. Russian Gazprom will not be able to restore its volume of gas exports lost due to the war in Ukraine for at least 10 years, writes FT. It is predicted that Gazprom’s gas exports to Europe will a...

Wednesday, June 5

The EU seeks to speed up investment in the hydrogen market to achieve climate neutrality and independence from Russian energy sources.

The EU seeks to speed up investment in the hydrogen market to achieve climate neutrality and independence from Russian energy sources. The European Commission announced the beginning of work on a pilot mechanism for developing the hydrogen market. Hydrogen will play an essential role in the EU’s transition to climate neutrality...

During the full-scale war in Ukraine, three wind power plants with a capacity of almost 230 MW have been built, and another 58 projects are at various stages of implementation.

During the full-scale war in Ukraine, three wind power plants with a capacity of almost 230 MW have been built, and another 58 projects are at various stages of implementation. According to Andriy Konechenkov, chairman of the board of the Ukrainian Wind Energy Association, since the beginning of the full-scale war, three new wind farms have been built in Ukraine: Tyligulska ...

Tuesday, June 4

Russia has already destroyed 9.2 GW of Ukrainian power generation; the state will work on creating an alternative.

Russia has already destroyed 9.2 GW of Ukrainian power generation; the state will work on creating an alternative. Due to the missile attacks over the last few days, Russia has destroyed 9.2 GW of Ukrainian power generation, noted EU Ambassador to Ukraine Katarina Mathernova. In turn, the Prime Minister of Ukraine...

Monday, June 3

OKKO group will build a 150 MW wind farm as well as bioethanol and biodiesel plants.

OKKO group will build a 150 MW wind farm as well as bioethanol and biodiesel plants. CEO of the OKKO group Vasyl Danylyak said, “In the fall, we will start our first wind energy project with a capacity of 150 MW in Volyn.” In addition, the group has already purchased the n...

Friday, May 31

Germany and the Czech Republic have led the energy revolution in the EU and want to eliminate the remaining 20% of imports from Russia.

Germany and the Czech Republic have led the energy revolution in the EU and want to eliminate the remaining 20% of imports from Russia. Germany and the Czech Republic are calling on the EU to do more to cut the last 20% of Russian energy imports. The countries are asking for the creation of a working group to determine ways to gradual...

Thursday, May 30

IMF: The EU will completely abandon Russian energy sources by 2030.

IMF: The EU will completely abandon Russian energy sources by 2030. According to the IMF, the EU has stopped importing coal and most oil from Russia. Imports of Russian gas to the EU have also been decreasing since 2021, and after the beginning of the full-scale war, ...

Wednesday, May 29

Britain will help a Ukrainian company build a plant to produce green hydrogen with a capacity of 8,000 tons per year with a €300-400M investment.

Britain will help a Ukrainian company build a plant to produce green hydrogen with a capacity of 8,000 tons per year with a €300-400M investment. The InnovateUkraine program, funded by the Ministry of Foreign Affairs of Great Britain, will support the creation of eight GW of green hydrogen production capacity in Ukraine. Voden Ukrainy LLC (Hydr...

Tuesday, May 28

Transcarpathia plans to develop geothermal energy production.

Transcarpathia plans to develop geothermal energy production. The Zakarpattia regional administration signed a memorandum with Ukrgazvydobovannya, the largest gas production company of Ukraine, on the implementation of gas-to-power projects at the Solotvyno and ...

Monday, May 27

The EBRD is developing options for energy assistance to help Ukraine survive next winter.

The EBRD is developing options for energy assistance to help Ukraine survive next winter. The EBRD’s main goal is to increase the energy system’s flexibility and restore heating where Russian strikes destroyed generating capacity, said a senior banker in the EBRD’s energy depar...

Thursday, May 23

Ukraine wants to create a $6B investment fund for energy sustainability.

Ukraine wants to create a $6B investment fund for energy sustainability. The State Agency for Energy Efficiency plans to create an International Green Investment Fund in Luxembourg, with an investment strategy calculated for 7-10 years and $6B, agency head Hanna Zamazeyeva...

How do forced power outages affect the Ukrainian military industry?

How do forced power outages affect the Ukrainian military industry? Power outages in Ukraine caused by Russian shelling not only create discomfort for the civilian population but also complicate the production of weapons, writes the New York Times. This slows producti...

Tuesday, May 21

Renovation of the energy system: Ukraine will develop smart power grids, and banks will support projects to restore energy generation.

Renovation of the energy system: Ukraine will develop smart power grids, and banks will support projects to restore energy generation. The Ministry of Energy of Ukraine approved the road map for developing smart networks to automate and implement digital solutions at all levels of the energy system. It is noted that the restoration o...

A relocated enterprise begins production of wind turbines in Transcarpathia, and DTEK is preparing to construct the second stage of the Tyligulska wind farm.

A relocated enterprise begins production of wind turbines in Transcarpathia, and DTEK is preparing to construct the second stage of the Tyligulska wind farm. The Friendly Wind Technology company announced its readiness to start production line operation to manufacture wind turbines. The company plans to produce up to 20 wind turbines with a unit capacity o...

Monday, May 20

State companies plan to extract 15 cubic meters of gas and two million tons of oil this year and have launched seven new gas wells.

State companies plan to extract 15 cubic meters of gas and two million tons of oil this year and have launched seven new gas wells. The Naftogaz group expects that state gas production companies will produce about 15 billion cubic meters of gas in 2024, said the state company’s CEO, Oleksiy Chernyshov. He added that in addition to...

Friday, May 17

Turkey helped Russia earn €3.1B from the export of petroleum products to the EU.

Turkey helped Russia earn €3.1B from the export of petroleum products to the EU. Last year, Turkey became the world’s largest buyer of Russian oil products, reported CSD and CREA analysts. In their view, Turkey has become a strategic transshipment point for Russian oil produ...

Energy decentralization starts in Kyiv: six mini-TPPs with a capacity of 619 MW are planned to be launched.

Energy decentralization starts in Kyiv: six mini-TPPs with a capacity of 619 MW are planned to be launched. City authorities in Kyiv are considering the creation of six mini-TPPs with capacities between 20 MW to 324 MW (total capacity – 619 MW) in addition to the three currently available. This concep...

Wednesday, May 15

Zelenskyy launches the biomethane market in Ukraine, which will help attract international investment.

Zelenskyy launches the biomethane market in Ukraine, which will help attract international investment. President Volodymyr Zelenskyy signed into law legislation regarding customs control and customs clearance of biomethane transported by pipeline across the customs border of Ukraine. The new law is exp...

Tuesday, May 14

The EU will introduce sanctions against Russia’s LNG, hitting Moscow and its Asian partners.

The EU will introduce sanctions against Russia’s LNG, hitting Moscow and its Asian partners. In the next package of sanctions against Russia, the EU seeks to ban the use of its ports for the re-export of liquefied natural gas. As Bloomberg points out, although blocking access will not prevent...

Monday, May 13

Ukraine continues to bleed out the Russian Federation’s oil depots.

Ukraine continues to bleed out the Russian Federation’s oil depots. On the night of May 11, Ukrainian drones attacked the Lukoil Volgograd Oil Refinery in the Russian Federation, according to Defence Intelligence of Ukraine. Lukoil-Volgogradnaftoperobka is the largest...

A new energy system architecture in Ukraine: 50 companies are ready to invest in distributed generation, and partners will provide €7.8B to cover risks.

A new energy system architecture in Ukraine: 50 companies are ready to invest in distributed generation, and partners will provide €7.8B to cover risks. As noted, Ukrenergo, the National Commission for Energy Market Regulation, the Federation of Employers, the European Commission, and international donors are working together to transform Ukraine’s en...

Friday, May 10

Ukraine needs at least $1B to restore its power system before the winter.

Ukraine needs at least $1B to restore its power system before the winter. Prime Minister Denys Shmyhal held the first meeting to prepare for the upcoming heating season. The head of the government named several challenges the government of Ukraine is facing: Scales o...

Thursday, May 9

Ukraine’s strikes on Russian refineries have proved more effective than Western sanctions.

Ukraine’s strikes on Russian refineries have proved more effective than Western sanctions. Ukrainian strikes on Russian oil refineries are now doing what the Western sanctions regime has failed to achieve. Foreign affairs analysts state that one of the world’s largest oil producers is...

Britain seeks to destroy the Russian monopoly on the nuclear fuel market.

Britain seeks to destroy the Russian monopoly on the nuclear fuel market. Britain has stepped up its efforts to destroy the Russian Federation’s monopoly on the uranium fuel market, which plays a key role in powering the new generation of small modular reactors. The K...

Tuesday, May 7

The Russian gas monopolist has recorded a loss for the first time in a quarter of a century due to the loss of the European market.

The Russian gas monopolist has recorded a loss for the first time in a quarter of a century due to the loss of the European market. The export of petroleum products from the Russian Federation has fallen to a two-year low. Due to a sharp reduction in supplies to Europe in 2023, the Gazprom corporation lost ₽629B ($6.8B). According...

Thursday, May 2

Despite US warnings, Ukraine continues attacking Russian refineries, disrupting the export of oil products and increasing its price.

Despite US warnings, Ukraine continues attacking Russian refineries, disrupting the export of oil products and increasing its price. As Politico writes, a wave of strikes by Ukrainian drones on oil refineries in the Russian Federation have led the world’s largest oil country to begin to run out of fuel. As a result, diesel fu...

During the years of the war against Ukraine, revenues from the Russian Federation’s gas exports have decreased fourfold.

During the years of the war against Ukraine, revenues from the Russian Federation’s gas exports have decreased fourfold. The failed attempt to freeze Europe, which deprived Russia of a key natural gas sales market, has collapsed gas revenues in the Russian budget, say analysts from the Russian Gaidar Institute. Accordin...

Wednesday, May 1

Europe has ended its dependence on Russian gas but is now hooked on Russian fertilizers.

Europe has ended its dependence on Russian gas but is now hooked on Russian fertilizers. After the invasion of Ukraine, the Russian Federation sharply reduced the supply of pipeline gas to the EU, in an attempt to put pressure on European governments. Instead, the EU began to build infras...

Ukraine aims to increase the volume of European gas in storage to four billion cubic meters and earn ₴70B through the transit of Russian oil.

Ukraine aims to increase the volume of European gas in storage to four billion cubic meters and earn ₴70B through the transit of Russian oil. The head of Naftogaz, Oleksiy Chernyshov, is convinced that Europe is still interested in Ukrainian gas storage, and he has called on EU countries to help protect gas storage facilities from Russian a...

Tuesday, April 30

Leaders of Ukraine’s energy sector increased their revenues by 8%.

Leaders of Ukraine’s energy sector increased their revenues by 8%. The combined income of Ukraine’s top ten energy companies in 2023 amounted to almost ₴745.9B, 8% more than in 2022 (₴688.45B). Half of the companies in the top ten are state-owned, and four more...

Ukraine’s energy mix is greener than the EU’s energy mix; Ukraine can help Europe with decarbonization.

Ukraine’s energy mix is greener than the EU’s energy mix; Ukraine can help Europe with decarbonization. The top manager of Metinvest, Andriy Kryl, noted that the Ukrainian and European metallurgical sectors face the same challenges. “We are talking about decarbonization, about the production of gr...

Monday, April 29

A Ukrainian company will extract gas in Iraq, producing up to four billion cubic meters annually.

A Ukrainian company will extract gas in Iraq, producing up to four billion cubic meters annually. A Ukrainian company, Ukrzemresurs, which specializes in natural gas extraction, received a contract to develop the Akkas gas field in the western Iraqi province of Anbar. According to the Minister of ...

Friday, April 26

How is Russia able to earn billions to fund its war through oil, gas, and metal?

How is Russia able to earn billions to fund its war through oil, gas, and metal? Russia’s revenues from the sale of oil and gas in April will almost double compared to the previous year and amount to $14B, thanks to rising prices. According to Reuters, revenues from the sale...

Thursday, April 25

Russia has not yet felt the impact: Kyiv must continue attacks on Russian refineries.

Russia has not yet felt the impact: Kyiv must continue attacks on Russian refineries. In the evening of April 24 in the Smolensk region of the Russian Federation, following several drone attacks, fire broke out at fuel and energy facilities after several explosions, the governor of the...

Wednesday, April 24

Ukraine has 22 biomethane plants ready to join the gas distribution network.

Ukraine has 22 biomethane plants ready to join the gas distribution network. Serhiy Minin, a representative of Gas Distribution Networks of Ukraine, said that the company has already issued two approvals of technical conditions for the connection of biomethane plants in the Ky...

Denmark will additionally allocate about €420M to rebuild Ukraine and develop a green energy sector.

Denmark will additionally allocate about €420M to rebuild Ukraine and develop a green energy sector. Ukraine and Denmark signed a memorandum that provides for cooperation with the private sector through the Ukraine Facility mechanism with a system of loans and guarantees within the framework of the E...

Tuesday, April 23

Ukraine is preparing to launch its biomethane register and is discussing the attractiveness of investment in the industry.

Ukraine is preparing to launch its biomethane register and is discussing the attractiveness of investment in the industry. The head of the State Agency for Energy Efficiency, Hanna Zamazeyeva, said that the development of the biomethane register is currently underway. Once implemented, exporters can supply biomethane to E...

Monday, April 22

Ukraine’s allies provide billions of euros to support Ukraine’s energy industry and reconstruction.

Ukraine’s allies provide billions of euros to support Ukraine’s energy industry and reconstruction. The UK allocated more than €173.9M to strengthen Ukraine’s energy sector. In addition, this year Kyiv will receive €560M from the EIB for energy, transport infrastructure, and housing reconstruc...

Thursday, April 18

Due to the recent attacks, Ukraine faces its most challenging energy situation since the start of the war,

Due to the recent attacks, Ukraine faces its most challenging energy situation since the start of the war, said DTEK CEO Maksym Timchenko. “We have lost 80% of the available capacity. Of course, these are the most difficult times since the beginning of the full-scale invasion in terms of the country&...

Ferrexpo is investing in the construction of a 10.8 MW solar power plant and electrifying its production processes.

Ferrexpo is investing in the construction of a 10.8 MW solar power plant and electrifying its production processes. The metallurgical company Ferrexpo plans to build a solar power plant with a capacity of 10.8 MW for its production needs, said Viktor Lotous, chairman of the board of Poltava MPP. He states that the ...

Wednesday, April 17

Ukraine is working on two projects with the capacity to produce up to 1,700 MW of pure hydrogen.

Ukraine is working on two projects with the capacity to produce up to 1,700 MW of pure hydrogen. Among the most developed hydrogen projects in Ukraine is the H2U Hydrogen Valley project, which is being implemented by the Voden Ukrainy company. Two renewable hydrogen plant valleys are being create...

Ukraine will build 10 GW of capacity to produce renewable hydrogen, which the EU urgently needs.

Ukraine will build 10 GW of capacity to produce renewable hydrogen, which the EU urgently needs. Currently, hydrogen production in Ukraine is approximately 360,000 tons per year, used mainly to produce ammonia. Although this is only 0.5% of global demand, with technological development and invest...

Tuesday, April 16

Western countries are involved in 96% of Russian LNG exports.

Western countries are involved in 96% of Russian LNG exports. The maritime industries from countries supporting Ukraine, including members of the G7 and the EU, provided for more than 90% of Russian exports of liquefied natural gas in 2023, totaling €15.5B. 96% ...

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