At the invitation of the Head of the Ministry of Energy German Galushchenko, the Review Mission of International Financial Institutions started its work in Ukraine

During a recent meeting with World Bank Vice President Antonella Bassani in Kyiv, Ukraine's Energy Minister German Galushchenko invited the World Bank and other international financial institutions to step up their work on preparing a Renewable Energy Integration Programme for Ukraine under the Climate Investment Fund. The Minister also emphasised the importance of rapid implementation of joint projects that will strengthen the resilience of the Ukrainian energy system.

The mission started its work yesterday. It is attended by representatives of the World Bank, the International Finance Corporation, the EBRD and the Climate Investment Fund (CIF) Administrative Office. The mission participants launched the preparation of the CIF Investment Plan for Ukraine together with representatives of the Ministry of Energy, energy companies, the regulator and the expert community. The amount of financing for the concessional loan under the Renewable Energy Integration Programme for Ukraine is USD 70 million. The programme aims to increase the flexibility of energy systems. One of the top priority areas of funding under the Renewable Energy Integration Programme is the introduction of energy storage systems (storage batteries).

«In times of war, the issue of flexibility, reliability and resilience of our energy system is extremely important. We need innovative solutions for sustainable green balancing and grid modernisation. We expect that the CIF Programme in Ukraine will result in innovative projects that will enhance the flexibility and resilience of the energy system, stimulating further integration of renewable energy technologies», said Deputy Energy Minister Yaroslav Demchenkov during the inaugural meeting with the joint mission.

The programme will fund projects to develop energy storage systems, real-time grid management technologies, green fuels and electric fuels in transport and heating, promote distributed generation, improve infrastructure readiness for RES integration, innovate in renewable energy, and improve system and market operation.

Read more: https://mev.gov.ua/novyna/na-zaproshennya-ochilnyka-minenerho-hermana-halushchenka-v-ukrayini-rozpochala-robotu