Ukraine, EIB review EUR 275 mln investment to boost Ukrenergo substation resilience
Ukraine's First Deputy Prime Minister, Minister of Energy Denys Shmyhal and European Investment Bank (EIB) Group Vice President Karl Nehammer discussed strengthening the resilience of Ukraine's energy system and attracting new investment during a meeting in Kyiv.
Ukraine's First Deputy Prime Minister, Denys Shmyhal, and European Investment Bank (EIB) Vice President, Karl Nehammer, met in Kyiv to discuss bolstering the resilience of Ukraine's energy system and attracting additional investment. A key project under consideration is a EUR 275 million investment for NPC Ukrenergo, aimed at enhancing the resilience of essential substations.
The meeting also touched on enhanced physical protection for energy infrastructure and coordinated financial support efforts with the EIB, the European Commission, and international partners. Shmyhal emphasized the importance of ensuring the financial stability of the energy sector, with plans to stabilize the electricity balancing market.
The two also discussed expanding cross-border electricity interconnections with the EU, with a focus on the 400-kV Artsyz–Isaccea power line between Ukraine and Romania. Currently, Ukraine and the EIB have seven energy sector projects in joint portfolios, totaling around EUR 1.26 billion, which include grid restoration, physical protection, hydropower revival, and stable gas supply initiatives.
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