Yulia Svyrydenko: Government launches a business support mechanism for the construction of independent distributed generation

The Cabinet of Ministers of Ukraine is creating additional tools to implement Resilience Plans in cooperation with the private sector and is launching a new state support mechanism for large and medium-sized businesses to build their independent distributed generation facilities.

This was announced by Prime Minister Yulia Svyrydenko.

According to her, companies will have access to loans at an effective annual interest rate of 10% for the construction and commissioning of, in particular:

• gas turbine and gas piston plants, including cogeneration facilities;

• renewable energy facilities (biomass, biogas, geothermal energy);

• energy storage systems;

• microgrids and local autonomous power systems.

The difference between the market rate and the preferential rate will be covered by the state.

“The support applies to loans ranging from EUR 1 to 25 million in hryvnia equivalent (for frontline territories—from EUR 500,000) with a term of up to 5 years, with the possibility of deferral until commissioning, but not longer than 12 months,” commented the Head of Government.

The program is scheduled to launch on June 1. It will be implemented by the National Development Agency. Applications can be submitted through authorized banks.

“Distributed generation is one of the components of our preparations for the upcoming heating season. Our goal is to ensure a total of 4 GW of distributed generation across the country to ensure the autonomous operation of critical infrastructure,” the Prime Minister noted.

She also added that since the start of work on implementing the Resilience Plans, 162 MW of new capacity has already been added across the country.

The Prime Minister thanked Ukrainian businesses, which are working and supporting the country’s economic and energy resilience during the most difficult times.