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Ukraine to receive $800 million from US for its energy sector

by Olena Goncharova September 1, 2024 5:41 AM 2 min read
Photo for illustrative purposes. An energy worker walks through a destroyed control room at a DTEK power plant in an undisclosed location in Ukraine on April 19, 2024, amid the Russian invasion of Ukraine. (Genya Savilov/AFP via Getty Images)
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Ukraine is set to receive $800 million from the U.S. to help stabilize its severely damaged energy infrastructure, Yulia Svyrydenko, Ukraine's First Deputy Prime Minister, announced during her visit to Washington on Aug. 31.

The announcement comes amid local media reports that Kyiv is considering the dismissal of Volodymyr Kudrytskyi, head of Ukrenergo, the state-run company managing Ukraine's power grid, due to dissatisfaction with the quality of power protection.

According to Svyrydenko, the funds will be allocated to essential equipment for immediate repairs to Ukraine's power facilities, which have been heavily damaged by nearly two years of Russian airstrikes.

Russia has repeatedly launched mass attacks on Ukraine's energy grid to cripple the country's ability and resolve to resist the invasion. These assaults began during the fall-winter period of 2022-2023 and resumed in the spring of 2024.

Following a brief lull over the summer, which allowed Ukraine to restore some of its energy capacity, Russia has renewed its attacks in recent days, once again forcing restrictions on energy consumption. Russian drones and missiles have reportedly damaged about 50% of Ukraine's pre-war power generation capacity, based on government estimates.

"Ukraine's energy infrastructure urgently requires restoration, and in this context, our U.S. partners play a crucial role," Andriy Yermak, head of Ukraine's presidential office, said on Telegram.

EU allocates nearly $110 million to restore, protect Ukraine’s energy system
Representatives of Ukraine’s state energy grid operator, Ukrenergo, and the KfW Development Bank signed an agreement worth 100 million euros (nearly $110 million) for energy projects, Ukrenergo announced on July 19.

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