Energy Crisis

Energy Community’s Ukraine Energy Support Fund receives first donation

Energy Community Ukraine Energy Support Fund donation

Photo: Energy Community

Published

April 29, 2022

Country

Comments

0

Share

Published:

April 29, 2022

Country:

Comments:

0

Share

The Ukraine Energy Support Fund has received its first donation from Denmark for emergency energy equipment, fuels for electricity production and heating and other types of humanitarian support, the Energy Community Secretariat said.

Close to two million Ukrainians are without electricity and heating, the Energy Community Secretariat said. It announced that it has set up the legal framework for the Ukraine Energy Support Fund to counteract the impact of the Russian invasion, upon request by the European Commission and in agreement with the Ministry of Energy of Ukraine.

The fund will enable governments and international financial institutions to provide emergency financial support to the Ukrainian energy sector. It is humanitarian by nature and strengthens the resilience of Ukraine, the secretariat said.

EU countries can now donate to Ukraine’s energy sector

Following the signature of a fiduciary agreement between the Ministry of Energy of Ukraine, the secretariat and the Ministry of Climate, Energy and Utilities of Denmark, the Ukraine Energy Support Fund has received the first donation from the Nordic country. The donation will be used to purchase emergency energy equipment, fuels for electricity production and heating and provide other types of support, the press release said.

Danish Minister for Climate, Energy and Utilities Dan Jørgensen stressed his country would encourage other governments to contribute

“Ukraine’s energy sector is badly affected by the war and they have asked for our help. Denmark, in close cooperation with the European Commission and the Energy Community, has set up a system so that EU countries can now donate to Ukraine’s energy sector,” Denmark’s Minister for Climate, Energy and Utilities Dan Jørgensen stated. He added his country would encourage other countries to contribute as well.

Keeping lights on in Ukraine

The Energy Community Secretariat is doing everything within its power to help keep the lights on in Ukraine, its Director Artur Lorkowski stressed.

“On a daily basis, my colleagues in war affected regions restore over and over electricity grids and gas supply networks. We are grateful to all our partners who provide us with the necessary equipment so we can bring electricity, heating and water to thousands of Ukrainian families faster,” Ukrainian Minister of Energy German Galushchenko said.

The funds can also be used as collateral for loans to Ukrainian energy companies

The secretariat said it is coordinating the supplies of equipment to Ukrainian energy companies active in gas and electricity production, supply, transmission and distribution. It vowed to use the donations to provide fuels and electricity and services such as repairs or reinforcements.

The Ukraine Energy Support Fund can be used as collateral (an interest-free guarantee) for public or private loans to energy companies. It will also cover necessary ancillary costs such as transportation, procurement, taxes, duties and fees, the secretariat pointed out.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Construction of first large solar power plant in BiH kicks off

27 May 2022 - The facility will be located in the southern municipality of Grude, 20 kilometers from the Adriatic Sea and 50 kilometers from Mostar

Wind solar save Turkey amazing USD 7 billion 12 months

Wind, solar save Turkey amazing USD 7 billion in last 12 months

27 May 2022 - Wind and solar power plants saved Turkey USD 7 billion over the last 12 months as it would have had to compensate for the shortfall with gas imports

Romania EUR 1 4 billion European funds grid solar gas

Romania to invest EU funds of over EUR 1.4 billion in grid, solar power, gas plants

27 May 2022 - The EU allowed Romania to use its share of the Modernisation Fund for the makeover of coal plant owner CE Oltenia and the electricity grid

guarantees-of-origin-energy-community-registries

Guarantees of origin scheme ready to go live in Energy Community markets

26 May 2022 - All that is left to do is for the national issuing bodies to sign agreements with energy certificate registry provider Grexel, says Naida Taso