Norway has signed an agreement with the European Union under which it will provide Ukraine with 425 million Norwegian kroner (approximately €40 million) for decentralized energy production, renewable energy, battery storage systems, and flexible local energy systems.
This was reported on the website of the Government of Norway.
“Norway will provide NOK 425 million to help Ukraine rebuild a more resilientenergy system,” the statement said.
It is noted that the assistance is focused on decentralized energy production, renewable energy, battery storage, and flexible local energy systems. This funding will strengthen the resilience of Ukraine’s energy supply, help accelerate recovery, and ensure the functioning of critical services.
“Ukraine must get through the coming winter while building an energy system that is less vulnerable to attack. In cooperation with the EU, Norway is providing NOK 425 million to strengthen Ukraine’s energy security. This funding will help Ukraine meet urgent needs while also contributing to its recovery, modernisation and path towards EU membership. Winter may seem far away, but preparations must be made now,” said Espen Barth Eide.
“Norway’s contribution represents promises in action. It will help Ukraine to prepare for the next winter and to come closer to the EU’s energy system, towards its place in the EU. Focusing on renewables and decentralised energy generation contributes to Ukraine’s energy security. It also brings Ukraine further in line with the current priorities of the EU through the green transition,” said Marta Kos.
The support will be provided through the EU’s Ukraine Investment Framework. This arrangement is designed to mobilize additional financing from banks and other financial institutions.
