• Українською
  • American investors are interested in participating in projects to restore and modernise Ukraine’s energy sector: Yuliia Svyrydenko
    Ministry of Economy of Ukraine, posted 14 July 2023 21:03

    American companies are ready to participate in projects aimed at restoring and modernising Ukraine’s energy sector. Such prospects for cooperation between Ukraine and the United States were discussed during a video conference by First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko, Advisor to the U.S. Assistant Secretary of State for Energy Resources Geoffrey Pyatt, Minister of Energy of Ukraine German Galushchenko, CEO of Ukrenergo Volodymyr Kudrytskyi, representatives of the largest US energy companies, as well as U.S. Ambassador to Ukraine Bridget Brink and Ambassador of Ukraine to the United States Oksana Markarova.

    “We have developed a short- and medium-term action plan that not only identifies our country’s current needs, but also aligns them with the strategic energy vision for Ukraine’s recovery, taking into account the goals of the green transition and energy security. It will form the basis for a more global recovery plan under the Ukraine Facility and will open access to EUR 50 billion of European Commission funding. We are ready to listen to you and your ideas – what solutions can be put in place now to implement as many energy projects as possible that can also contribute to economic growth in Ukraine. We see your interest and we count on American investors because we are convinced that the private sector should become the basis for rebuilding our country,” said Yuliia Svyrydenko.

    According to the First Deputy Prime Minister, over the next five years, Ukraine will focus on creating new generating capacity based on renewable energy, creating balancing capacity based on hydroelectric power plants, and developing flexible distributed generation. Special attention will also be paid to energy storage projects and the development of nuclear generation.

    Another area of recovery in the Ukrainian energy sector should be the modernisation and expansion of transmission and distribution systems, namely the development of smart microgrids and the expansion of the capacity of interconnectors and transmission lines between Ukraine and Slovakia, and between Ukraine and Romania.

    Ukraine plans to localise the production of energy equipment by 2026.

    For his part, Geoffrey Pyatt confirmed the U.S. intention to support Ukraine both during the war and in the post-war recovery period. According to him, American companies should already be planning their participation in projects to restore Ukraine’s energy infrastructure.

    The heads of the American companies Baker Hughes, Bechtel, GE Vernona, Halliburton, Holtec, Invenergy, NuScale Power, Schneider Electric USA expressed their readiness for close cooperation. Most of them confirmed their readiness to create new jobs in Ukraine and support the energy sector in its green transition.