PJSC Ukrnafta , Ukraine’s largest oil extraction company, has secured €150 million in grants and a loan for €250 million from the European Bank for Reconstruction and Development (EBRD) to develop 400 MW of new generation projects.

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World Future Energy Summit 2027 (WFES 2027)

Oleksandr Hryban, Director of Sustainable Development and Non-Financial Reporting said: “In order for the company’s gas to become more than just a commodity and create added value, we made a strategic decision to develop a generation portfolio.” He added that Ukrnafta will develop balancing capacities to replace those lost to Russian attacks, and encourage the development of renewable energy.

Hryban said that the 400 MW of generation would involve gas engine plants to support Ukraine’s regions, including front-line areas, as well as a 250 MW CCGT in Dnipropetrovsk region.