Ukrainian electricity producer Centrenergo to chart green course with EIB technical assistance

The European Investment Bank (EIB) will support Ukraine’s state-owned power company Centrenergo with €350,000 in technical assistance to develop a decarbonisation plan, the Bank announced on 27 April.

Before Russia’s invasion of Ukraine in 2022, Centrenergo’s facilities supplied electricity to millions of people across the country. Russia’s attacks have destroyed or disabled all of Centrenergo’s power plants, leaving the company without generation capacity.

Under the technical assistance agreement, EIB experts will work with Centrenergo to assess damaged assets and chart a phased path towards low- and near-zero emissions. The goal is to restore power generation while moving away from coal, focusing on cleaner technologies and targeted investments to rebuild the system and attract international financing.

The initiative supports Ukraine’s ‘National Energy and Climate Plan’ and comes in response to a request from the Ministry of Energy of Ukraine.

“The new support programme will be implemented to restore Centrenergo facilities after Russian attacks and, at the same time, will enable the introduction of carbon-neutral energy production technologies. This is an important contribution from our partners to the modernisation and strengthening of our energy system,” said Deputy Minister of Energy of Ukraine Anatolii Kutsevol. 

The technical assistance is financed under the EIB’s ‘EU for Ukraine Advisory Programme’. 

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Press release