On May 21, Italian Ambassador to Ukraine Carlo Formosa and Artur Lorkowski, Director of the Energy Community Secretariat, signed an agreement on a new contribution from Italy in the amount of EUR 10 million for repair and reconstruction work in Ukraine’s energy sector.
This was announced by Ukraine’s First Deputy Prime Minister for Energy Denys Shmyhal following a meeting with Lorkovsky and partners on a Telegram channel on Thursday.
“Prior to this, Italy had already contributed EUR13 million to the Energy Support Fund. We are grateful to Italy,” he noted.
According to Shmyhal, the parties paid special attention to mechanisms for attracting additional contributions to Ukraine’s Energy Support Fund as a tool for strengthening energy resilience.
“We also discussed opportunities for international businesses to invest in Ukraine’s energy sector. “The launch of updated auctions for the construction of new power generation capacity in Ukraine is an important signal to the market; we can more broadly attract international investors to the development of new capacity,” he said.
Ukraine is also preparing to present these and other opportunities at the URC conference in Gdańsk in June.
“We agreed to jointly develop mechanisms for mitigating and insuring against military risks for such investments,” the First Deputy Prime Minister added.
As reported, as of the end of April, Ukraine’s foreign partners had announced additional contributions to the Energy Support Fund totaling approximately EUR 100 million.
In total, as of early April, the Energy Support Fund of Ukraine had received grant funds totaling nearly EUR 1.854 billion from 37 foreign sponsors from 26 partner countries and three international organizations.
Serbian entrepreneur Bogoljub Karić said he is ready to join negotiations on the purchase of the Russian stake in Naftna Industrija Srbije (NIS) and offer around EUR 2 billion for it, the Telegram channel “Serbian Economist” reports. His appearance among potential buyers may change the configuration of the struggle for Serbia’s largest oil and gas company.
According to Serbian media, Karić said that a group of local industrialists is ready to submit an offer “that cannot be refused.” According to him, Serbian President Aleksandar Vučić, Russian President Vladimir Putin, as well as the management of the company itself, were informed of the intention to buy out NIS shares. Karić also claims that the Russian side received the corresponding letter of intent.
Vučić, commenting on this initiative, reacted with irony, saying that in Serbia “two people with two billion euros have already been found,” and expressed hope that these funds would be invested in the country’s economy. Reuters previously reported that the little-known Serbian group Senator had submitted an application to OFAC to purchase the Russian stake in NIS for $2.35 billion.
The issue of NIS’s future has intensified amid U.S. sanctions pressure on Russian energy assets. Washington demands the withdrawal of Russian shareholders from the Serbian oil company, and the deadline for completing the deal has been set for May 22. At the same time, any deal will require not only the consent of the current shareholders and the Serbian authorities, but also approval from the U.S. Treasury Department’s Office of Foreign Assets Control — OFAC.
In parallel, Belgrade is holding talks with Hungary’s MOL. Earlier, MOL signed an agreement to purchase the Russian stake in NIS, while the Serbian authorities, for their part, are seeking additional guarantees regarding the operation of the oil refinery in Pančevo — the only refinery in the country. The stability of its operations and the supply of fuel to the domestic market remain key conditions for Belgrade.
At present, Gazprom Neft remains the largest shareholder of NIS, with a stake of about 44.85%, while another 11.30% belongs to a structure linked to the Russian side. The Republic of Serbia owns approximately 29.87% of the shares, and the remaining securities are held by minority shareholders.
Karić’s public entry into the process strengthens the intra-Serbian scenario around NIS. Whereas Hungary’s MOL was previously named as the main contender, the possibility is now being discussed that the Russian stake could pass to Serbian capital. However, such an option remains complicated: it depends on the position of the Russian shareholders, the Serbian government, U.S. sanctions procedures, and the readiness of new investors to ensure not only the price of the deal, but also the stable operation of the country’s entire oil infrastructure.
NIS is Serbia’s largest oil and gas company. It is engaged in the exploration and production of oil and gas, oil refining at the Pančevo refinery, wholesale and retail trade in petroleum products, and also manages a network of filling stations in Serbia and the region.
Bogoljub Karić is a Serbian entrepreneur, one of the country’s best-known businessmen of the 1990s and 2000s. His business interests have historically been connected with the banking sector, construction, telecommunications and industrial projects.
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 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.
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.
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/
ENERGY, maternity ward, Sant Joan de Déu, Schneider Electric
