The Ministry of Energy of Ukraine and the UK Foreign, Commonwealth & Development Office (FCDO) have signed a memorandum on the Energy Partnership between the two countries.
The document was signed by German Galushchenko, Minister of Energy of Ukraine, and Leo Docherty, Parliamentary Under Secretary of State for Europe at the Foreign, Commonwealth & Development Office, on the sidelines of the Ukraine Recovery Conference in London.
The memorandum, in particular, provides for the creation of a new GBP 62-million InnovateUkraine Green Innovation Challenge Fund. The main objective is to strengthen energy security. The initial contribution will be GBP 10 million, with the remainder to be allocated in installments up to 2025. The funds will be used for energy innovation projects that will accelerate the reconstruction and rehabilitation of Ukraine’s energy infrastructure.
“Working with our UK partners will allow us to modernise our energy system and strengthen its resilience to military threats, as well as laying the foundations for the development of green energy. In the near future, this programme will provide Ukraine’s energy sector with additional resources to repair and restore damaged infrastructure. We are grateful to our British friends for this support and assistance,” said German Galushchenko.
According to the memorandum, the British side will support the Ministry of Energy under the new Clean Energy Partnership and continue to support the Ukraine Resilience and Energy Security (URES) programme. This will include technical cooperation, official development assistance grants, and trade and investment facilitation in areas such as small modular nuclear power plants, green hydrogen and other renewable gases, solar micro/mini-grids, small household solar systems, energy efficiency, onshore and offshore wind, carbon market development and others.
FCDO support is coordinated through the G7+ Coordination Group in support of Ukraine’s Energy System. In the short term, the URES programme will provide Ukraine’s energy sector with resources to repair damaged infrastructure and reconnect consumers to electricity, gas and heat. The URES programme will focus on rebuilding infrastructure in an environmentally friendly and energy efficient way. (Government portal/Business World Magazine)