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during the telecast. During the War & Energy live panel discussion organized by UBN Network, Sakharuk drew attention to the lack of anti-aircraft missiles, which makes it impossible to protect power system facilities that Ukraine has already repaired. To support the energy crisis in Ukraine, Denmark will transfer another €4.7M to the Energy Support Fund of Ukraine for rapid recovery in the Mykolaiv and Kharkiv regions. The total amount of donor contributions to the fund exceeds €551M.
The US announced $1.5B for Ukraine's energy sector at the Peace Summit. During a meeting with Volodymyr Zelenskiy in Switzerland, US Vice President Kamala Harris announced a new energy aid package to be provided by USAID and the State Department. In particular, USAID is planned to provide $500M in new funding for energy assistance and redirect $324M of previously announced funds to Ukraine's emergency energy needs. These funds will be used to help repair energy infrastructure, expand electricity production, encourage private sector investment, and protect energy facilities. In addition, the package also includes food, medical services, water, sanitation, and hygiene services formns of Ukrainians in need. Also, support for agriculture and employment will be provided to enable families to restore income and meet basic needs, the White House clarified. According to Harris, together with Congress, the State Department plans to provide an additional $300M to support Ukraine’s civil security. These funds are part of a larger foreign aid package initiated by the US president.
The largest banks in Ukraine have agreed on preferential lending to restore energy infrastructure; they will finance projects up to €25M. During a banking forum, 17 of Ukraine's largest banks signed a memorandum on preferential lending for energy infrastructure restoration projects. The memorandum was signed by banks whose net assets as of May 1, 2024 amounted to more than 83% of the total assets in the entire Ukrainian banking system, in particular: FUIB, Sense Bank, Oschadbank, Ukreximbank, Ukrgazbank, Credit Agricole Bank, Praveks-Bank, and PrivatBank. Depending on the segment, the loan amount can be from €500,000 to €25M. The client's contribution should be 10% to 50%, depending on the project size. In particular, projects for constructing solar plants, wind plants, biogas plants, biomass plants, gas turbine and gas piston power plants, industrial storage batteries, as well as projects to provide or increase high maneuverability, storage capacity, and cogeneration projects will be financed. The loan terms will be up to five to seven years. In addition, unsecured lending is possible for micro and small business projects.
Restoration of one MW of generation capacity costs approximately $1M; Ukraine will requirebns to restore its energy system. Distributed power generation, said NBU Deputy Head Kateryna Rozhkova, that will be used to restore power generation capacities will cost Ukrainebns of dollars. She explained that restoring one MW carries an approximate $1M cost. Rozhkova added that for Ukraine to restore 20% of its need through distributed generation, it will costbns of dollars. At the same time, Rozhkova stated that the energy system’s lack of capacity is a "challenge for business." Therefore, she called on entrepreneurs to rebuild and invest in their energy independence, buying medium and small generators to provide their production with an uninterrupted power supply. As a result of the Russian attacks in the spring, according to various estimates, Ukraine lost eight to ten GW of power generation capacity. In response, Ukrhydroenergo stated that, in the short term, they plan to restore one GW of generation and to restore
104 UKRAINE Country Report July 2024 www.intellinews.com