Ukraine needs some UAH 300B for energy modernization program – Zelenskyy

Ukraine has developed a detailed program of energy modernization, requiring about UAH 300 billion (US$9.82 billion) for its implementation.

That's according to President Volodymyr Zelenskyy who spoke at a joint press conference with President of the European Council Charles Michel and European Commission President Ursula von der Leyen following a 23rd Ukraine-EU summit, an Ukrinform correspondent reports.

"We have a major program on energy saving, which concerns more than insulating each home. This program has already been developed in detail; we will discuss it with our colleagues from the European Union. For the program, Ukraine needs about UAH 300 billion," Zelenskyy said.

According to the Ukrainian leader, the program provides for the replacement of energy grids across the country. Zelenskyy expects that the program will be implemented before the end of 2022.

He stressed that Ukraine must become energy independent, including through the expansion of nuclear generation. Zelenskyy also stressed the importance of maintaining gas transit via Ukraine.

According to the president, the possibility of applying the EU's Third Energy Package to the Nord Stream 2 gas pipeline was also discussed during the Summit.