Ukraine Plans EIB-Backed €275M Project To Protect Substations

(MENAFN- UkrinForm) Shmyhal reported this in a Telegram post, according to Ukrinform.

“One of our priorities is a new investment project for NPC Ukrenergo worth up to €275 million. It is designed to strengthen the resilience of critical substations,” Shmyhal said.

They also discussed additional physical protection for energy infrastructure and coordinated efforts to secure financial support from the EIB, the EU, and international partners.

Another key priority was ensuring the financial stability of the energy sector, particularly by reforming the electricity balancing market, Shmyhal said.

“We are working on systemic solutions together with the EIB, the EBRD, and the European Commission,” he added.

The meeting also addressed plans to develop cross-border electricity interconnections with the EU. One of the key projects is the construction of the 400 kV Artsyz–Isaccea power line between Ukraine and Romania. According to Shmyhal, the project would help improve the reliability of electricity supplies between the two countries.

Read also: Russia launches largest attack on Ukraine energy infrastructure since spring

The joint EIB–Ukraine energy portfolio currently comprises seven projects worth approximately €1.26 billion. These include projects to restore and modernize electricity grids, provide physical protection for energy facilities, restore hydropower capacity, and ensure a stable gas supply, the deputy prime minister said.

As previously reported, First Deputy Prime Minister and Energy Minister Denys Shmyhal met with Moldovan Prime Minister Vasile Tofan. The two discussed shared energy challenges, preparations for winter, and the development of bilateral cooperation.

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