Ukrnafta PJSC, which with the help of the European Bank for Reconstruction and Development (EBRD) has planned projects to generate power from its own gas with a total capacity of up to 370 MW, is additionally working to attract investment to build renewable energy capacity such as solar and wind, said supervisory board chairman Duncan Nightingale.
“We want to introduce about 200 MW of renewable energy over the next two years,” he said in a blitzing interview with Interfax-Ukraine.
Nightingale recalled that, according to agreements with the EBRD, in addition to loan funds, the bank is providing the company with grant support worth several tens of millions of euros.
“All these funds will be used for the construction of gas generation. At the first stage we plan to build about 375 MW of new gas to power capacities,” the chairman of the Supervisory Board specified.
According to him, initially Ukrnafta’s plan until 2028 provides for the introduction of about 1 GW of new electricity and heat generation, as well as storages (for energy storage – IF-U), which will require significant investments.
“We plan to attract funds from current donors, national and international banks, and investors. The main task is to direct the company’s funds to the main activities to increase hydrocarbon production, and energy projects should be self-sufficient, including the attraction of financing,” Nightingale emphasized.
He thanked investors who are now supporting Ukrnafta on the way to building gas generation.
“Ukrnafta realizes the importance of traditional energy sources, especially under the conditions of martial law. At the same time, we use gas as a transition fuel for power generation. This allows us to work on environmentally sustainable solutions for the future,” summarized the Chairman of the Supervisory Board.
“Ukrnafta is Ukraine’s largest oil producer and is the operator of the national network of gas stations. In March 2024, the company entered into Glusco asset management and operates a total of 544 filling stations – 461 owned and 83 under management.
Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share stake. In November 2022, the Supreme Commander-in-Chief of the AFU decided to transfer to the state a share of corporate rights of the company, which belonged to private owners and is now managed by the Ministry of Defense.
Read the full blitzinterview with PJSC Ukrnafta Supervisory Board Chairman Duncan Nightingale on the sidelines of the Ukrainian House in Davos soon on the agency’s website www.interfax.com.ua.
