On May 21, Italian Ambassador to Ukraine Carlo Formosa and Director of the Energy Community Secretariat Artur Lorkowski signed an agreement on a new €10 million Italian contribution for repair and restoration work in Ukraine’s energy sector.
This was announced by First Deputy Prime Minister and Energy Minister Denys Shmyhal after a meeting with Lorkowski and partners on Thursday via Telegram.
“Previously, Italy had already contributed €13 million to the Energy Support Fund. We are grateful to Italy,” he said.
According to Shmyhal, the parties also focused on mechanisms to attract additional contributions to the Ukraine Energy Support Fund as a tool to strengthen energy resilience.
They also discussed opportunities for international businesses to invest in Ukraine’s energy sector. The launch of updated auctions for new generation capacity is an important market signal, and Ukraine aims to attract broader international investment into new energy projects.
Ukraine is also preparing to present these and other opportunities at the URC conference in Gdańsk in June.
“We agreed to jointly develop mechanisms to reduce and insure war-related risks for such investments,” the First Deputy Prime Minister added.
As previously reported, by the end of April, international partners had pledged around €100 million in additional contributions to the Energy Support Fund. In total, as of early April, the fund had received nearly €1.854 billion in grants from 37 donors across 26 partner countries and three international organizations.
