Business news from Ukraine

Sweden has contributed more than EUR 25 mln to Energy Support Fund of Ukraine and will continue to help

26 March , 2024  

Sweden has contributed EUR25.27 million to the Energy Support Fund of Ukraine, the Ministry of Energy has announced.

“Part of the Swedish contribution has already been paid to provide the necessary assistance to the distribution system operators of the frontline regions of Zaporizhzhia and Mykolaiv, as well as for the needs of the transmission system operator,” the Energy Ministry said in a release following a meeting between its head Herman Halushchenko and Swedish Deputy Prime Minister, Minister of Energy, Business and Industry Abba Bush.

In addition, about EUR 8 million of the Swedish grant is intended to finance the implementation of decentralized renewable energy solutions, including solar panels, batteries, microgrids, and energy efficiency measures for social services and households.

Since March 2022, Ukraine has also received 97 shipments of power equipment from Sweden with a total weight of over 1126 tons, including 222 generators, current and voltage transformers, and other electricity and gas equipment for renewable energy.

“We will continue to help Ukraine in these difficult times of trial by providing assistance to help them recover from the latest hostile attacks. These days, we see Russia using energy as a weapon once again,” Bush said during the meeting, the key topic of which was the continuation of Swedish support for Ukraine in the war against the Russian aggressor, assistance to the Ukrainian energy sector, and strengthening cooperation in nuclear energy and renewable energy.

According to her, the Ukrainian experience in strengthening the resilience and support of the energy system is extremely important and useful for Europe.

According to the Ministry of Energy, the Vice Prime Minister emphasized the minister’s special efforts to maintain contacts with her colleagues, the energy ministers of the EU member states, in developing a policy to strengthen the continent’s energy security.

“The recent attacks on Ukraine’s energy system are a very good indication for us in Europe of how important the stability of the energy system is for the vital activity of our countries. And we are pleased that we are learning from the leadership of Ukraine’s energy sector how to maintain energy system resilience,” Bush emphasized.

“We thank our international partners and Sweden itself for supporting Ukraine’s energy sector with equipment and contributions to the Energy Support Fund. We are assessing the consequences of the recent attacks and will soon compile a list of urgent needs for equipment to carry out restoration work,” Galushchenko said.

As reported by the Ministry of Energy of Ukraine in mid-December 2023, the total amount of sponsors’ commitments to the Energy Support Fund of Ukraine increased to EUR 390 million, with EUR 229 million actually transferred to the Fund’s grid from 18 public and private sector sponsors from different countries.

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