Largest oil and gas company in Ukraine moves towards producing electricity
Ukrainian oil company Ukrnafta will start building maneuverable power generation plants, including gas piston and gas turbine thermal power plants, the company's press service reported on June 6.
The energy source will be gas produced by the company in parallel with oil. The company will receive funding for the construction of power plants from the European Bank for Reconstruction and Development (EBRD).
"This is a strategic step for the company to expand the value chain by selling electricity directly instead of gas," the statement said.
"In the medium term, this will allow us to support Ukraine's energy system, which has suffered from Russian attacks."
Read also: Extensive damage to Ukraine's power grid forces years of energy savings - Ukraine's PM Shmyhal
Earlier, it was reported that the EBRD will allocate 300 million euros to Ukraine to help ensure a stable electricity supply, announced Ukrainian Prime Minister Denys Shmyhal.
"A relevant memorandum was signed with the President of the Bank, Odile Renaud-Basso," Shmyhal said.
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Funds will be used by state-owned energy companies to restore generating capacities and infrastructure, as well as to build new decentralized generation.
The Trypillia TPP in Kyiv Oblast was destroyed in an April 11 Russian attack, resulting in a 100% loss of Centrenergo's generation.
DniproHES lost both power plants in March 2024. The dam survived, but the equipment was destroyed. The restoration of the Dnipro HPP will take years.
Read also: Kyiv to build six mini thermal power plants amid ongoing power crisis
TPP-5 in Kharkiv was destroyed. Its restoration is equivalent to building a new plant, which will also take years.
Kharkiv Oblast's Zmiivska TPP (Centrenergo) was destroyed.
DTEK Group (owned by Rinat Akhmetov) reported an 80% loss in generation.
All units of the Burshtyn and Ladyzhyn TPPs were damaged.
A gas storage facility in western Ukraine also suffered damage.
Two HPPs were decommissioned as of May 9.
Controlled emergency power outages were introduced in all oblasts of Ukraine from May 14.
Ukrenergo announced on May 20 that all major thermal and hydroelectric power plants in Ukraine had been damaged by Russian shelling.
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