JSC Ukrnafta has signed a grant agreement with the European Bank for Reconstruction and Development (EBRD) at the Ukraine Recovery Conference 2026.

Under the agreement, Ukrnafta will receive EUR 44.6 million in grant financing through the EBRD Crisis Response Special Fund.

The grant will finance the procurement and installation of gas engine power plants at Ukrnafta’s production sites as part of a critical distributed generation project.

The facilities will add approximately 62 MW of installed generation capacity.

The grant complements the EUR 80 million in concessional financing previously secured from the EBRD to support the development of Ukrnafta’s distributed generation programme.

“Developing distributed generation is one of Naftogaz Group’s key priorities as part of our efforts to strengthen Ukraine’s energy resilience. I am grateful to the EBRD for its continued support and partnership. This financing will help accelerate the implementation of critical energy projects and improve the reliability of energy supply amid Russia’s ongoing aggression,” said Sergii Koretskyi, Chief Executive Officer of Naftogaz Group.

“For an upstream company, a reliable electricity supply is essential to maintaining uninterrupted operations,” said Bogdan Kukura, Chief Executive Officer of Ukrnafta.

“At a time when Ukraine’s energy infrastructure remains under constant attack, on-site generation helps maintain production, ensure operational continuity and reduce dependence on external factors. These new facilities will strengthen the resilience of our assets while also contributing to the stability of Ukraine’s power system.”

The project forms part of Ukrnafta’s long-term programme to modernise its energy infrastructure through the deployment of high-efficiency generation technologies.

“This agreement reflects the confidence that international financial institutions place in Ukrainian state-owned companies that uphold high standards of corporate governance, transparency and responsible management. For Ukrnafta, it also marks an important step in building a long-term partnership with the EBRD and the international financial community. I would like to thank the EBRD, as well as the governments of Norway and the Netherlands, for supporting projects that strengthen Ukraine’s energy resilience and contribute to the country’s future recovery,” said Timothy Dodson, Chairman of the Supervisory Board of Ukrnafta.

The project will strengthen the resilience of Ukrnafta’s production assets while creating additional reserve generation capacity for Ukraine’s power system.