"Ukrnafta" received 80 million euros from the European Bank for Reconstruction and Development to build a state-of-the-art distributed gas generation system.

Additionally, 22 million euros in grant support from the United States and the Netherlands has been announced for energy generation purposes.

According to Sergii Koretskyi, CEO of PJSC Ukrnafta, "These new energy facilities will become a crucial element in meeting current energy demands and ensuring long-term stability in the face of Russia's ongoing attacks on energy infrastructure."

"Our cooperation with the EBRD is a new chapter and a testament to the hard work of our twenty-thousand-strong workforce and the entire national management team. After an extensive due diligence and compliance assessments, it certifies that Ukrnafta satisfies the high criteria set by the EBRD for its clients. I speak for the entire Company when I say that I am incredibly proud of the new level of international cooperation we have achieved.

“For many years, Ukraine has relied on the European Bank for Reconstruction and Development as a partner. The deal reached today is the first of a sizable investment package for both public and private businesses authorised by the Bank's Board of Directors on December 4. Ukraine's energy sustainability will be strengthened by the EUR 80 million loan issued to Ukrnafta, which will assist in the construction of a new, modern gas-fired generating facility,” the First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine, Yulia Svyrydenko, said.

The company has changed into a transparent business that follows the highest OECD corporate standards and good financial outcomes, as evidenced by the EBRD agreement with Ukrnafta.
The funds raised will be used to build co-generation facilities and gas distributed power plants with a combined capacity of about 100 MW across Ukraine.