The Netherlands will contribute EUR65m to Ukraine’s Energy Support Fund, the Energy Ministry said after a meeting between Deputy Minister Roman Andarak and Dutch government special representative Erika Scholten.
“This is a significant support for us and it will be an important contribution to the repair campaign that is already underway in preparation for the next heating season. Thanks to these funds, we will be able to partially cover the immediate needs,” Andarak noted.
In her turn, the Dutch representative emphasized that the energy sector would remain one of the main priorities for her country in providing further support to Ukraine.
The parties also discussed the needs of the Ukrainian fuel and energy sector in equipment for the gas production sector, which has recently been subjected to regular Russian attacks. The parties agreed to study in detail the possibilities of cooperation in this area.
According to the Ministry of Energy, since the beginning of the full-scale Russian invasion, Ukraine has received from the Netherlands 211 cargoes of energy equipment weighing almost 3,000 tons, including transformers, generators, a mobile gas power station, cables, fittings for overhead lines and other equipment needed for repair and restoration work.
As reported with reference to Energy Minister German Galushchenko, now the deficit of the Ukrainian Energy Support Fund in applications submitted by Ukrainian energy companies is almost $500m.
The Energy Support Fund was established in April 2022 on the initiative of Energy Minister Herman Galushchenko and Energy Commissioner Kadri Simson.
As of the beginning of March 2025, the announced contributions of partners to the Fund exceeded EUR1 billion. Among its donors are public and private sectors from more than 30 countries, international and regional organizations.
Italy will join the processes of Ukraine’s reconstruction, in particular the restoration of the energy sector, says Italian Deputy Prime Minister and Foreign Minister Antonio Tajani.
“There can’t be negotiations without Ukraine and without Europe. It is impossible to agree on an agreement without Ukraine and without Europe…. Peace must come together with strong security guarantees for Ukraine,” he said on Monday in Kiev, speaking at a plenary session of the ‘Support Ukraine’ program.
According to Tajani, peace must be stable and lasting for Ukraine, and Italy would be happy to discuss Ukraine’s future. “Rebuilding, rebuilding, trade. We want tourists to visit Ukrainian cities and Ukrainians to visit our universities and our cities. We will participate in the rebuilding process,” he emphasized.
According to the Deputy Prime Minister, Italy, in particular, will join the restoration of the energy sector.
“We are organizing an international conference on reconstruction. It will be held in Rome on July 10-11 this year. We want to organize what will be a huge success for Ukraine,” Tajani informed.
Since the beginning of the full-scale war, the European Bank for Reconstruction and Development (EBRD) has invested approximately EUR5bn in Ukraine, of which approximately EUR2bn is aimed at energy projects, including in the field of renewable energy, said Olga Yeremina, associate director, senior banker in the bank’s energy department.
“Since the beginning of the war, the bank has invested about EUR5 billion in Ukraine, of which roughly EUR2 billion is aimed at energy projects,” Yeremina said during the ReBuild Ukraine international conference in Warsaw, quoted in a release on the European-Ukrainian Energy Agency’s website on Tuesday.
According to her, the EBRD is open for new investments in the RES sector in Ukraine, noting the improvement of the regulatory environment and harmonization of reforms with EU requirements, but there are problems with the sustainability of projects, including in terms of guaranteed buyback of electricity, uncertainty of revenue streams and instability of the electricity market.
For his part, as noted in the release, EUEA board member, GOLAW partner Oleksandr Melnyk presented the concept of the Market Risk Guarantee Fund initiated by the agency together with the Ukrainian Wind Energy Association.
“The Fund, which will be established by international financial institutions, will protect private RES companies from fluctuations in the electricity market by ensuring a minimum electricity price,” Melnyk explained.
According to Yeremina, the Fund could become the main driver of investment, contributing to the sustainability of Ukraine’s energy system and accelerating the implementation of projects from RES.
The release points out that according to the National Energy and Climate Plan, by 2030 Ukraine should double the current 10 GW of RES capacity, which will be facilitated, among other things, by the Market Risk Guarantee Fund.
As reported in September 2024, the EBRD has provided EUR4.6bn to the Ukrainian economy since the start of Russia’s full-scale invasion of Ukraine, including at least EUR1bn to energy companies Ukrenergo, Naftogaz and Ukrhydroenergo.
In June, it was reported that the German company GOLDBECK SOLAR Investment and the EBRD are creating a joint venture GOLDBECK SOLAR Investment Ukraine to implement projects for the construction of 500 MW power plants in Ukraine over the next three to five years.
GOLDBECK SOLAR Investment was to receive a EUR5 million loan from DEG (Deutsche Investitions-und Entwicklungsgesellschaft) for its commitment in Ukraine through the ImpactConnect program initiated and financed by the German Federal Ministry for Economic Cooperation and Development (BMZ). Planning for the construction of the first solar park is due to start in the fall of 2024.
This is the EBRD’s first equity agreement in Ukraine’s energy sector since the full-scale invasion by the Russian Federation.
