On Wednesday, the Board of Directors of the European Bank for Reconstruction and Development (EBRD) approved a loan of up to EUR80 million to Ukrnafta under state guarantees for the construction of about 100 MW of small gas-fired distributed power plants and cogeneration facilities. According to the bank’s website, the loan will help solve the problem of electricity shortages and ensure uninterrupted power supply to households and businesses.
The total cost of the project will be EUR103.8 million, and it will also be financed by a grant of up to EUR22 million expected to be provided by the Netherlands, the United States and other donors through the EBRD’s Special Crisis Response Fund, as well as a technical support grant of EUR1.8 million from other donors.
“Ukrnafta is Ukraine’s largest oil producer and operator of the national network of filling stations. In March 2024, the company took over the management of Glusco’s assets and operates 547 filling stations – 462 owned and 85 managed.
The company is implementing a comprehensive program to restore operations and update the format of its filling stations. Since February 2023, the company has been issuing its own fuel coupons and NAFTAKarta cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
“Ukrnafta holds 92 special permits for commercial development of fields. It has 1832 oil and 154 gas production wells on its balance sheet.
Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share. In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state a share of corporate rights of the company owned by private owners, which is now managed by the Ministry of Defense.
