Business news from Ukraine

Business news from Ukraine

Serbia is looking for site to build its first nuclear power plant

According to Serbian Economist, Serbia may decide on the location and technology for its future nuclear power plant in 2027, said Minister of Mining and Energy Dubravka Jedović-Handanović. According to her, the country has already entered the first phase of developing its nuclear program and has corrected a “historic mistake” by lifting the ban on considering nuclear energy.

The minister stated that an analysis is currently underway to determine where and how a nuclear facility could be integrated into Serbia’s power grid. A preliminary study has already examined possible options for connecting the future nuclear power plant to the grid, and next year the authorities expect to reach a decision on the site and technology.

Serbia views nuclear energy as part of a long-term response to rising electricity consumption, decarbonization, and the need for stable baseload generation. Serbia’s first nuclear power plant could be connected to the grid by 2040, and the country aims to become part of the global “nuclear renaissance.”

Authorities expect to complete the initial stages of preparation for construction by 2032. This involves not only selecting a site and technology but also establishing a regulatory framework, training personnel, forming a national organization to implement the nuclear program, assessing financing, and engaging with public opinion.

For Serbia, nuclear energy is becoming part of a broader discussion about the future structure of its energy mix. The country remains heavily dependent on coal-fired generation, while simultaneously developing solar and wind projects, battery storage, and gas infrastructure. However, for energy-intensive industries, data centers, artificial intelligence, and the future electrification of transportation, the authorities consider it necessary to have a stable source of baseload power.

Serbia’s most likely international partners for its nuclear program could be France, Russia, China, South Korea, the United States, Slovenia, and Hungary. France’s EDF has already presented Serbia with a roadmap for a nuclear program comprising 19 key steps: completion of studies by 2027, selection of technology and preparation of a construction contract by 2032, and commissioning of the nuclear power plant by 2040.

Russia, through Rosatom, has also discussed with Belgrade possible cooperation during the preparatory phase, primarily in the areas of knowledge exchange and support for the development of a nuclear program. However, political and sanctions-related risks make the Russian option more complicated, especially if Serbia aligns itself with European standards for financing and regulation.

China already has a memorandum of cooperation with Serbia in the nuclear sector, covering issues such as radioactive waste, radiation protection, personnel training, and technical support. South Korea’s KHNP has also signed a memorandum of cooperation with Serbia on nuclear energy and hydrogen, making Korea one of the potential technology partners.

The U.S. may be of interest to Serbia primarily through small modular reactors (SMRs) and technological cooperation, as Belgrade has previously spoken of seeking support to obtain approximately 1.2 GW of capacity based on SMR technology. Separately, the option of Serbia participating in the Hungarian Paks NPP by purchasing 5–10% of the capacity or a stake was discussed, which could be a faster way to access nuclear power generation without immediately building its own plant.

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Ukrnafta to Utilize Wärtsilä Equipment to Strengthen Energy Resilience

Ukrnafta and Wärtsilä, with the support of the Ministry of Energy of Ukraine and the Naftogaz Group, have launched a collaboration in the field of energy resilience.

During a meeting between First Deputy Prime Minister and Minister of Energy Denys Shmyhal and Petteri Orpo, a framework agreement was signed for the supply of complete equipment for modern gas piston power plants between Ukraine’s largest oil producer, JSC Ukrnafta, and the Finnish leader in energy technology manufacturing, Wärtsilä.

“This is one of the strategic projects aimed at strengthening Ukraine’s energy security amid constant Russian attacks on energy infrastructure. The lengthy negotiation process is achieving its goal,” emphasized Serhiy Koretskyi, Chairman of the Board of NJSC Naftogaz of Ukraine.

The purchase will be financed through preferential loans from the Finnish-Ukrainian Investment Facility (FUIF), guaranteed by the Finnish export credit agency Finnvera.

“The project will provide backup power for the company’s critical units. The surplus of generated electricity will be directed to meet the needs of the population and businesses within the country’s integrated power grid, which has been affected by Russian attacks,” noted Bogdan Kukura, Chairman of the Board of JSC “Ukrnafta.”

Modern, highly flexible gas equipment will enable Ukrnafta to additionally provide balancing services for the electricity market and significantly strengthen energy security in the regions.

JSC “Ukrnafta” is Ukraine’s largest oil production company and operates the country’s largest national network of gas stations—UKRNAFTA. In 2024, the company entered into an asset management agreement with Glusco. In 2025, it finalized a deal with Shell Overseas Investments BV to purchase the Shell network in Ukraine. In total, it operates nearly 700 gas stations.

The company is implementing a comprehensive program to restore operations and modernize the format of the gas stations in its network. Since February 2023, it has been issuing its own fuel vouchers and “NAFTACard” cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.

The largest shareholder of “Ukrnafta” is NJSC “Naftogaz of Ukraine,” holding a 50%+1 share stake.

In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the share of corporate rights in the company that belonged to private owners, which is now managed by the Ministry of Defense.

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Serbia to finance the supply of transformers for Ukraine’s energy sector with EUR2 million

Serbia will allocate EUR2 million to support Ukraine’s energy sector במסגרת a joint project with the United Nations Development Programme (UNDP), the Telegram channel “Serbian Economist” reported, citing official data.

According to the report, the Government of the Republic of Serbia and UNDP signed an agreement providing for the financing of the procurement and delivery of high-voltage transformers. These are critical pieces of equipment needed to restore electricity transmission systems and ensure stable power supply.

The funds will be provided under UNDP’s green energy recovery programme for Ukraine. The initiative is aimed at supporting basic services in the regions most affected by the war, including electricity, heating and water supply.

Serbian Ambassador to Ukraine Andon Sapundji said that Belgrade’s contribution is intended to support critical infrastructure and help ensure uninterrupted energy supply for the population.

In turn, UNDP Resident Representative in Ukraine Auke Lootsma stressed that Serbia’s assistance will contribute not only to the restoration of damaged facilities, but also to the modernization of Ukraine’s energy system.

According to international estimates, since 2022 Ukraine’s energy infrastructure has suffered extensive destruction. Total losses in the sector are estimated at $88.2 billion, of which about $17.1 billion relates specifically to the power sector, including generation and transmission.

The project is being implemented as part of cooperation between Ukraine and the United Nations in the field of sustainable development and is in line with the strategic goal of transitioning to a more resilient and modern energy system.

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Sant Joan de Déu saved 50% on energy costs at night thanks to Schneider Electric solutions

Sant Joan de Déu Barcelona Children’s Hospital, a leading pediatric care facility and teaching hospital, partnered with Schneider Electric, a global leader in energy technologies, to modernize its electrical infrastructure using automation solutions that provide enhanced energy efficiency and convenient control in patient rooms. Using the Schneider SpaceLogic KNX portfolio of energy management and automation solutions, the maternity ward achieved an average of 40% energy savings.

Since its founding in 1867 as Spain’s first children’s hospital, Sant Joan de Déu has been a pioneer in comprehensive care for women, children, and adolescents. The hospital is known as one of Europe’s most important specialized and technologically advanced pediatric centers. Since 2009, it has sought to create adaptive healthcare models focused on the patient and comfort, using the most modern technological solutions.

In 2022, Sant Joan’s electricity bills tripled—from €400,000 to €1.2 million—and prices have remained volatile since then, prompting the hospital to implement an energy management system to optimize consumption and reduce its carbon footprint. As a leading adopter of “smart hospital” technologies, Sant Joan also uses its own unique Cortex management system to monitor patient status, building occupancy, and energy consumption. This means that any energy management solution must seamlessly integrate with Cortex’s advanced automation capabilities without compromising high standards of comfort and patient care.

Thanks to the SpaceLogic KNX solution, patients in the maternity ward have gained more control over lighting, blinds, and temperature in their rooms, maximizing comfort without complicating care through a simple interface. This was made possible by the SpaceLogic KNX Pushbutton with Dynamic Labeling, which provides an intuitive interface for controlling lighting, blinds, and climate directly from the bed. Additionally, the SpaceLogic system provides Sant Joan’s building management team with reliable recommendations for further optimizing energy consumption through seamless integration with Cortex.

“After just one week, we were able to prepare a proposal for Sant Joan regarding the implementation of SpaceLogic KNX. After an hour of installation work, we integrated SpaceLogic KNX with Cortex,” said Ignacio de Ros, EcoXpert, Home and Small Building Automation, Schneider Electric, and co-founder of Albo de Ros Canto Engineering. “Smooth installations demonstrate to our customers how easy it is to achieve measurable results without compromise. We look forward to a long-term and fruitful partnership with Sant Joan de Déu Hospital.”

Thanks to the SpaceLogic KNX system, the maternity ward has achieved 35% energy savings during the day and 50% at night for lighting and air conditioning, averaging 40% overall savings compared to the floor below, which has not yet been automated.

“Patients come from all over the world to receive treatment at Sant Joan de Déu, and we are constantly investing in improving their care. SpaceLogic KNX gives our patients more control over their room and personal comfort,” noted Juan Antonio Rivas, Head of Facilities Operations at Sant Joan de Déu. “In the future, we plan to collaborate with Schneider Electric to implement SpaceLogic KNX throughout the hospital.”

In addition to automating energy management throughout the hospital, Sant Joan plans to use the flexibility of the SpaceLogic KNX system to create animated light installations in some common areas for the youngest patients.

To learn more about the collaboration between Sant Joan de Déu and Schneider Electric, watch the video here. The SpaceLogic KNX range is available worldwide; learn more on the website.

About Schneider Electric

Schneider Electric is a global leader in energy technologies, driving efficiency and promoting sustainable development through the electrification, automation, and digitalization of industry, business, and residential spaces.

The company’s technologies enable buildings, data centers, factories, infrastructure, and power grids to function as open, interconnected ecosystems, enhancing productivity, resilience, and sustainability.

The company’s portfolio includes smart devices, software-defined architectures, AI-based systems, digital services, and professional consulting services. With 160,000 employees and 1 million partners in over 100 countries, Schneider Electric consistently ranks among the world’s most sustainable companies.

Learn more at https://www.se.com/ua/uk/

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Moldova to propose 60-day state of emergency in energy sector following disconnection of power line with Romania

The Moldovan government will propose to parliament that a state of emergency be declared in the energy sector for a period of 60 days, starting March 25, 2026, following the disconnection of the main Vulcănești–Isaccea power line as a result of Russian strikes on Ukraine’s civilian energy infrastructure. This was reported on the Moldovan government’s official website.

The Vulcănești–Isaccea line is the main artery for electricity imports and supplies 60–70% of the consumption on the right bank of Moldova. Authorities estimate a potential power deficit during peak hours at up to 350–400 MW starting March 25.

The Moldovan government stated that the state of emergency will allow for the rapid procurement of energy resources and emergency equipment, faster distribution of necessary resources, and, if necessary, the implementation of measures to restrict consumption and special operating rules for economic operators to protect critical infrastructure and social institutions.

At the same time, officials in Chisinau emphasize that consumers are currently being supplied with electricity from domestic sources and imports via alternative routes, including four 110 kV interconnection lines with Romania. These schemes have been used before, notably during the blackouts on January 31, 2026.

According to the Moldovan state agency Moldpres, citing the National Crisis Management Center, downed drones were discovered near the Isaccea-Vulcănești line, limiting access for technical crews and requiring demining before repair work can begin. Inspections are being conducted in coordination with transmission system operators from Moldova, Romania, and Ukraine.

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Schneider Electric Becomes McLaren Racing’s Official Energy Technology Partner

McLaren Racing and Schneider Electric, a global leader in energy technologies, announced today that Schneider Electric will become the official energy technology partner of McLaren Racing, including the McLaren Mastercard Formula 1 Team, the Arrow McLaren IndyCar Team, the McLaren F1 Academy, and the McLaren United Autosports WEC Hypercar Team.

Together, Schneider and McLaren Racing will develop and implement energy technologies that deliver maximum performance under the most demanding conditions—both in ensuring a reliable power supply directly at race tracks around the world and at the McLaren Technology Centre in Woking, UK. The partnership is rooted in a shared culture based on the intelligent use of data, accelerated innovation, and engineering excellence.

Schneider and McLaren Racing will build on their supplier relationship, which spans over 20 years, to tackle complex energy challenges where performance and uptime are critical. This will include optimizing existing assets—including the wind tunnel, manufacturing facilities, data centers, and other sites—using sustainable systems to reduce energy consumption, promoting electrification through advanced energy technologies, and leveraging digital twin technology to generate data analytics for improved efficiency and sustainability.

Zack Brown, CEO of McLaren Racing, said:

“We are delighted to welcome Schneider Electric as our official energy technology partner. This partnership is built on a strong foundation and reflects our shared commitment to innovation and energy efficiency. By combining Schneider’s expertise in energy technologies with McLaren’s pursuit of peak performance, we will unlock new ways to make our operations smarter and more efficient.”

Olivier Blum, CEO of Schneider Electric, noted:

“Racing is one of the most demanding environments for demonstrating the value of advanced energy and digital technologies. McLaren Racing pushes every system to its limits—that’s where our expertise in performance, reliability, and efficiency is crucial. We are proud to become McLaren’s official energy technology partner, providing energy analytics they can rely on both on and off the track.”

About Schneider Electric

Schneider Electric is a global leader in energy technologies, driving efficiency and sustainability through the electrification, automation, and digitalization of industry, business, and residential spaces. The company’s technologies enable buildings, data centers, factories, infrastructure, and power grids to function as open, interconnected ecosystems, enhancing productivity, resilience, and sustainability.

The company’s portfolio includes smart devices, software-defined architectures, AI-based systems, digital services, and professional consulting services. With 160,000 employees and 1 million partners in over 100 countries, Schneider Electric consistently ranks among the world’s most sustainable companies.

Learn more at https://www.se.com/ua/uk/

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