American business interested in participating in energy sector reconstruction

American investors are interested in participating in projects to restore and modernize the energy sector.

First Deputy Prime Minister – Minister of Economy of Ukraine Yulia Svyrydenko and Assistant Secretary of State for Energy Resources Geoffrey Pyatt discussed such prospects of Ukraine–US cooperation during a video conference, the press service of the Ministry of Economy reports.

“We developed a short- and medium-term action plan that not only defines the current needs of our country but also aligns them with the strategic energy vision of Ukraine’s recovery, taking into account the goals of the green transition and energy security. It will become the basis of a more global plan for the recovery of Ukraine within the framework of the Ukraine Facility and will open access to financing from the European Commission in the amount of EUR 50 billion… We see your interest and count on American investors because we are sure that it is the private sector that should become the basis of the reconstruction of our country,” Svyrydenko emphasized.

According to her, in the next five years, Ukraine will focus on the creation of new generating capacities based on renewable energy, the creation of balancing capacities based on hydroelectric power plants, as well as developing maneuverable decentralized generation. Separate attention will also be paid to energy storage projects and the development of nuclear power generation.

Modernization and expansion of transmission and distribution systems, namely the development of “smart” microgrids and the expansion of the capacity of interconnectors, transmission lines between Ukraine and Slovakia, Ukraine and Romania, should be another direction for the recovery of Ukrainian energy.

In the period until 2026, Ukraine plans to localize the production of energy equipment.

Geoffrey Pyatt, in turn, confirmed the intentions of the US to support Ukraine, both during the war and in the period of post-war reconstruction. According to him, the American business should already plan its participation in the projects to restore the Ukrainian energy infrastructure.

The Ministry of Economy notes that the heads of the American companies Baker Hughes, Bechtel, GE Vernona, Halliburton, Holtec, Invenergy, NuScale Power, Schneider Electric USA pledged their willingness for close cooperation. Most of them confirmed their readiness to create new jobs in Ukraine and support the energy sector in the green transition.

As reported, 400 international companies have already joined the “investment coalition” in Ukraine.