Ukrainian energy companies are joining the Ukraine Energy Initiative to accelerate the recovery of the energy sector
The UN Global Compact Network Ukraine launched the Ukraine Energy Initiative, which unites partners in creating a broad industry coalition. Its task is to speed up the recovery of Ukraine's energy sector. The scale of the destruction is already such that it is simply impossible to restore the energy system even to the state it was in February 2022 with only our own resources. We need partners and investors to restore the energy system to a better, more efficient, and more ecological one.
Since the start of the full-scale invasion, Russia has launched more than 5,000 missiles at Ukraine, 25% of them at energy facilities. According to preliminary estimates, the amount of damage caused to the Ukrainian energy infrastructure by a full-scale war equals $8.8 billion. With this money, Ukraine could build more than 5,000 MW of green capacities by 2030.
In order to restore the Ukrainian economy as soon as possible, we should consider the next steps and search for investments now. Ukraine Energy Initiative is a platform that unites Ukrainian and international stakeholders for dialogue between the parties and successful further cooperation.
Ukrainian companies have already joined the initiative, including Naftogaz Group, NPC Ukrenergo, DTEK Group, Atmosfera, Ukrteplo Group of Companies, Energy Trade Group, SPP Development Ukraine, KNESS, Notus Energy, UDP Renewables, Unicorn Systems UA, ENERGY ACT FOR UKRAINE Foundation. Also, a framework declaration on cooperation with the Educational and Scientific Institute of Energy Saving and Energy Management of the National Technical University of Ukraine "Ihor Sikorsky Kyiv Polytechnic Institute" and with the Institute of Technical Thermophysics of the National Academy of Sciences of Ukraine has already been signed. We are working on attracting international business to the Initiative.
"Ukraine Energy Initiative is a tool for implementing the Ukraine Business Compact 2023, presented jointly by the British government, the government of Ukraine, and the UN Global Compact Ukraine at the URC conference in London. We have set ourselves the mission of coordinating international efforts to successfully restore Ukraine's energy sector, and we know for sure that this is a very real task. We invite energy companies to join us in creating an industry-wide coalition. Green and modern Ukrainian energy can be a reliable partner in ensuring energy supply to the EU. We can build it together," – said Tetiana Sakharuk, Executive Director of the UN Global Compact Network Ukraine.