Business news from Ukraine

Business news from Ukraine

Norway and UNDP invest $105 mln to restore Ukraine’s energy sector

25 October , 2024  

Norway, in partnership with the United Nations Development Program (UNDP), has committed a total of NOK 1.1 billion ($105 million) in financial support to rebuild Ukraine’s energy infrastructure, build backup capacity and accelerate Ukraine’s transition to a more diversified and sustainable energy mix.
“This partnership will ensure the restoration of energy generating capacity in Ukraine, providing direct support to important regions of Ukraine. This contribution will significantly mitigate the impact of the ongoing shelling of Ukraine’s energy infrastructure. As part of this enhanced partnership, solar panels will be installed to provide backup power to schools and hospitals, and a recent agreement will provide an additional 80 MW of power to the national grid this winter,” the UN press service reports.
It is noted that thanks to the UNDP Energy Recovery Program, the provision of heat and water will meet the needs of more than a million people and industrial consumers.
“Russia’s constant attacks on Ukraine’s energy infrastructure have led to an urgent need to increase electricity production. There is a shortage of this type of equipment on the market. Therefore, the agreement with UNDP is very important to support Ukraine this winter,” Norwegian Foreign Minister Espen Barth Eide said in a government press release.
The production, transportation and installation of energy equipment are complex and risky processes that are carried out by reliable partners, as this is vital assistance that will enable Ukraine to survive the coming winter.
“We are committed to supporting Ukraine in its efforts to build a more resilient and sustainable energy system by restoring critical energy infrastructure and generation capacity, and advancing strategic initiatives to accelerate the transition to green energy. We are committed to supporting Ukraine in its efforts to build a more resilient and sustainable energy system. Rehabilitating critical energy infrastructure is essential as people living in multi-storey buildings in major cities have no alternative means of heating and water supply. UNDP’s Renewable Energy Program, through which we are supporting Ukraine’s energy recovery, is a testament to our commitment to promoting green recovery and energy security for all Ukrainians. We are grateful to our partners for their continued support,” said UNDP Resident Representative Jaco Silje.

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