The Fund for Energy Support of Ukraine in October received grant contributions from Germany
249.7 million euros, Malta
50,000 euros and the Hungarian company Regional Centre for Energy Policy Research (REKK)
3,000 euros.
Contracts for equipment supply through the Fund
Through the Fund’s mechanism in October contracts were signed for the supply of critically needed equipment totalling about 193 million euros. Purchases cover power transformers, high-voltage and switching equipment, cable products, generator sets, specialised machinery, protection systems and other materials and components.
In October Ukrainian energy companies also received equipment purchased through the Fund under previously signed contracts totalling about 4.1 million euros. This concerns transformers, equipment for protection of power networks, circuit breakers, disconnectors, insulators and specialised heavy goods vehicles.
Approved investments and total amount of grants
In October the World Bank approved investments in Ukraine totalling 116.2 million dollars under the programme “Integration of Renewable Energy Sources” (REI). The funds will be directed towards developing cross-border interconnections, expanding renewable energy capacities and energy storage systems.
Overall, the Fund for Energy Support of Ukraine has so far received grant funds totalling nearly 2.408 billion euros from 41 foreign sponsors from 27 partner countries and 3 international organisations.
“Because damage to high-voltage networks prevents the delivery of produced electricity to consumers, Ukraine is forced to export it. The largest recipients of Ukrainian electricity are Hungary and Moldova.” — Oleksandr Kharchenko, director of the Centre for Energy Studies.
