Ukraine needs $91 billion to fully restore its power grid
Ukraine will need nearly $91 billion over the next ten years to fully restore its energy sector.
This was officially announced by Energy Minister Denys Shmyhal, citing the latest estimates from the World Bank.
The main strategic goal for the industry over the next decade is to attract substantial investment resources.
“To implement such investments, Ukraine critically needs private capital,” the minister emphasized during the presentation of the reconstruction plan.
The government has already identified priority areas that will form the basis for building a modern and sustainable energy system.
In particular, special attention will be paid to the implementation of battery energy storage systems (BESS) and the rapid development of renewable energy sources.
An important aspect of the modernization will be the expansion of gas-fired generation and a significant upgrade of local power grids.
These steps will enable the creation of a decentralized system, which is critical for the stable operation of the sector under current conditions.
At the same time, the government plans to actively increase domestic natural gas production and modernize the oil and gas infrastructure.
As a reminder, Shmyhal discussed a $1.4 billion package with the U.S. for energy sector recovery.
Shmyhal also visited an energy facility in western Ukraine, where additional protective structures are being built.
