Prime Minister: EU joins implementation of the energy saving program and provides support for Energy Efficiency Fund
Information and Communication Department of the Secretariat of the CMU, posted 18 April 2018 14:57

The European Union joins a five-year support program of the Energy Efficiency Fund in Ukraine and participates in co-financing  of the Fund.

The relevant agreements were reached today in Kyiv during the talks between the Government of Ukraine and the Delegation of the European Commission with the active assistance of Prime Minister of Ukraine Volodymyr Groysman.

On the outcomes of the negotiations an Agreement on financing of the Energy Efficiency Program in Ukraine by the European Commission with a total value of 268 million euros, of which the EU contribution will amount to 50 million euros was signed.

Among key financing areas are support for the creation and functioning of the Energy Efficiency Fund through the "technical office", provision of technical consulting services on energy saving, strengthening the capacity of banks through the development of standard working procedures and training, ensuring compliance with monitoring and verification requirement.

"The Energy Efficiency Fund is the most efficient instrument for ensuring our energy independence. I am grateful to  international partners for the financial support of the Fund. I am sure that energy efficiency programs will allow not only to ensure less energy consumption, but also to improve the quality of services", the Head of Government stressed.

Background

The Energy Efficiency Fund is a key instrument of the state policy of energy modernization of the country. The Fund will provide funds for the implementation of thermo-modernization projects, installation of effective heating and cooling systems and equipment, and also replacement of existing systems and equipment for more efficient ones.

According to the Government forecasts, within 3-5 years of the work of the Energy Efficiency Fund, gas savings will amount to at least 7-10 billion cubic meters, and fuel savings to at least $ 3 billion.