Snow Leopard Financial Group’s Post

EBRD and our EU donor partners are supporting the resilience and decarbonisation of the #districtenergy sector in Ukraine. This week at the Ukraine Recovery Conference the Bank signed a financing package for the district energy system in the city of Lutsk for investments in network modernisation, digitalisation and renewable heat generation.   This is the first new district energy project the Bank has supported in Ukraine since Russia's full scale invasion in 2022, it is also the Bank's first district energy project in the country which includes heat pump technology. The project builds on a successful earlier EBRD project and will further increase the resilience of the system to provide uninterrupted heat supply in the face of attacks on Ukraine's energy infrastructure. #ebrd #heatpumps #renewableheat #energy #URC24 #districtheating

🇺🇦 Today, the Government has made an important decision - it has approved the Procedure for the use of the State Fund for Decarbonization and Energy Efficiency Transformation! I am grateful to the President of Ukraine and the Verkhovna Rada (David Braun, Andriy Gerus, Serhiy Nagornyak, Andrii Zhupanyn, Oleh Bondarenko and others), who supported the initiative a year ago and decided to create the Fund. 🙌 I am especially grateful to the Prime Minister of Ukraine Denys Shmyhal and the members of the Government for the timely decision made today, which will allow the full launch of the Decarbonization Fund Thanks to the Minister of Finance Sergii Marchenko, Denys Ulyutin, Acting Minister of Infrastructure Vasyl Shkurakov, Oleksandr Zhuk, Dmytro Petrunin and their team at the State Agency on Energy Efficiency and Energy Saving of Ukraine for developing mechanisms for using the funds to make them work most effectively to achieve the goals. ♻️ The full-fledged launch of the Fund is an extremely important step for a large-scale energy efficiency transformation of the country in these difficult times and taking into account the future challenges of CBAM. The Procedure incorporates the best international practices of financial support for the implementation of energy efficiency projects, adapted to Ukrainian realities. Where will the Fund's money be directed? I will tell you briefly, in more detail later - after the publication of the Government's resolution. UAH 759 million of the Fund's funds will be used this year to provide state support for the implementation of energy efficiency measures and diversification of energy supply for: 🔹municipal infrastructure (utilities); 🔹industrial enterprises; 🔹Public buildings. Details at the link - http://surl.li/urjit I am confident that the full launch of the State Fund for Decarbonization and Energy Efficient Transformation will be a powerful catalyst for accelerating energy-efficient changes in the country's economy and an additional permanent source of funds for implementing measures to reduce energy dependence. 👌As of today, these funds can already work to help municipalities, communities, businesses and people quickly prepare for the difficult autumn and winter period and prolonged power outages.⚡️

EBRD Delegation Visits Kyiv to Strengthen Support for Ukraine’s Energy Sector A high-level delegation from the European Bank for Reconstruction and Development (EBRD), led by Matteo Patrone, Vice President, Banking, visited Kyiv this week to engage in discussions with Ukraine’s government and key energy companies on providing support to the country’s energy sector following the extensive Russian attacks on power generation facilities. Since the onset of Russia’s full-scale invasion, the EBRD has significantly increased its investments in Ukraine, deploying €4.6 billion since 2022. Of this amount, at least €1 billion has been directed to energy companies, including Ukrenergo, Naftogaz, and Ukrhydroenergo. Energy security remains a top priority for Ukraine. In response […] Read the full story here: https://lnkd.in/dC2znTiq #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #europe #greenenergy #renewableenergy #solarenergy #ukraine

The European Bank for Reconstruction and Development (EBRD) has announced plans to mobilise up to €300 million in additional funding to support Ukraine’s energy companies as part of a response to Russia’s latest attacks on Ukraine’s energy infrastructure. EBRD President Odile Renaud-Basso signed a memorandum of understanding this week on an energy security emergency response programme with Ukrainian Prime Minister Denis Shmyhal. The funding will go to Ukraine’s state-owned energy companies, including NPC UKRENERGO, Ukrhydroenergo, and Ukrnafta. “Under the agreement, the EBRD intends to mobilise additional funding of more than €300 million for Ukraine’s energy companies, to support the restoration of generation facilities and infrastructure, to facilitate the construction of new distributed flexible generation capacity and to ensure stable and uninterrupted electricity supply across the country,” the EBRD said in a statement. “The EBRD and the Government of Ukraine will work together to define priority focus areas in the energy sector, which will guide EBRD support.” The EBRD has made more than €4 billion of financing available to Ukraine since the start of the war in February 2022. “Distributed energy generation development, including from renewable sources, and the resilience of the power transmission system are key priorities in the EBRD’s engagement with energy sector clients,” the bank added. #cleanenergy

EU Funds $85 Million Eastern Backbone Transmission Line Project To Boost Malawi’s Power Reliability The Electricity Supply Corporation of Malawi (ESCOM) Limited is set to enhance the reliability of power supply to the Central and Northern regions following a significant funding commitment from the European Union (EU). On July 29, 2024, EU Ambassador to Malawi, Rune Skinnebach, signed an agreement with Malawi’s Minister of Finance, Simplex Chithyola Banda, to provide K174 billion (€85 million) for the Eastern Backbone Transmission Line project. This funding aligns with the objectives of Malawi 2063 and the EU Global Gateway strategy. The project involves constructing a new 132 kV line on steel-latticed towers, replacing the deteriorating 42-year-old wooden pole-mounted […] Read the full story here: https://lnkd.in/d5j246ri #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #africa #electricitysupplycorporationofmalawi #malawi #powertransmission #renewableenergy

Ukrainian minister of economy presents investments in energy sector at forum in US Minister of Economy of Ukraine Yulia Svyrydenko presented potential investment projects in Ukraine's energy and critical materials sectors during the Energy Transition Forum 2024 in Washington. "Since the beginning of the full-scale invasion, USAID has allocated almost $1 billion in assistance to the energy sector, including emergency support provided to repair and maintain Ukraine's energy infrastructure," said Svyrydenko. Get the full story here: https://lnkd.in/dgKGf5SV

🏛 The Israeli Minister of Energy & Infrastructure Eli Cohen, met with IPTO-Independent Power Transmission Operator Chairman & CEO Manos Manousakis, on the occasion of signing the intergovernmental agreement between #Greece and #Israel for promoting regional energy stability, and conveyed the Israeli government’s support for the seamless implementation of the Great Sea Interconnector. Read IPTO's post on LinkedIn: https://lnkd.in/dVJxQNyS 🏛 Minister Eli Cohen, said on X: “I signed an agreement with my Greek counterpart, Minister of Environment & Energy Theodoros Skylakakis, to enhance cooperation in the energy sector between our countries. Through strategic projects such as the Great Sea Interconnector, the submarine electricity cable connecting #Israel to #Europe, and a joint infrastructure corridor, we aim to bolster energy security, diversify Europe’s energy sources, promote stability in the Middle East, and reinforce Israel’s role and contribution as a key regional energy player”. Read on Χ: https://lnkd.in/dXZsWie9 🏛 The ambassador of Israel in Greece Noam Katz tweeted earlier on X that, “Today, Eli Cohen, the Minister of Energy & Infrastructure of Israel, and the Minister of Environment & Energy of Greece, Theodore Skylakakis, met in Athens and signed an agreement to enhance strategic energy cooperation and connectivity between the two countries. This agreement will further strengthen bilateral ties and contribute to the region’s prosperity. Both Ministers expressed their support for the Great Sea Interconnector that will link the electricity grids of #Israel, #Greece, and #Cyprus”. Read on X: https://lnkd.in/dvBC9YcR #subseacables #energyhubs #interconnectors

The #US is supporting #Moldova with an $85 million (€78.6 million) investment in a large-scale #battery #energy #storage system (#BESS) as part of a broader #funding package aimed at improving the country's energy #resilience, the Moldovan government has announced. The investment is part of a $300 million package of assistance from the US Agency for International Development (USAID) to address energy challenges resulting from Russia's war against Ukraine and attacks on Ukraine's energy grid. The investment will enable the installation of equipment that will strengthen Moldova's national energy #grid and facilitate #electricity #trade with #Romania, Ukraine and the European market. The battery storage and additional equipment will help manage energy reserves and cope with fluctuations in demand while integrating #renewableenergy. Source: https://lnkd.in/gukx3HP9

Allies are investing in the restoration of Ukrainian energy and critical infrastructure. France will allocate €200M to enterprises that will invest in restoring Ukraine's critical infrastructure, with €60M of these funds directed to the Ukrainian energy sector, French President Emmanuel Macron said. In addition, he announced the expansion of the mandate from the French Development Agency to support projects in Ukraine at the local level. As well, the Cabinet of Ministers decided to obtain €30M from the German State Investment Bank (KfW) for the reconstruction of one power substation in the Lviv region. According to Prime Minister Denys Shmyhal, €500M has already been accumulated in the Energy Support Fund to purchase the necessary equipment. In addition, Estonia decided to increase its contribution to the Energy Support Fund of Ukraine created by Kyiv and the European Commission, transferring an additional €400,000. With that contribution, Estonia’s total amount provided is €450,000. https://lnkd.in/deGiDETf

💶Two Ukrainian banks join EBRD’s Energy Security Support Facility.  Ukrgasbank and PrivatBank have become the first two banks in Ukraine to join the EBRD’s Energy Security Support Facility, a landmark programme that will enable the country’s financial sector to provide better access to financing for energy security investments in Ukraine.  To Ukrgasbank, the EBRD is extending a €150 million portfolio-risk-sharing facility, while to PrivatBank, the EBRD is extending a €175 million facility for financing energy security projects in Ukraine. Trough this programme the EBRD will partially cover the risk of partner financial institutions on a total of €700 million of sub-loans for investment in decentralised energy generation, energy storage, and energy efficiency measures. Ukrainian businesses, state-owned enterprises, including municipalities, municipal companies, and households, will be eligible for loans through the facility, thus strengthening their resilience to both immediate energy security risks and the medium-term impacts of climate change.  Ukrgasbank and PrivatBank are partners of the EU4Business EBRD Credit line, a joint initiative of the EU and the EBRD to help Ukrainian small and medium-sized enterprises.  The EBRD is Ukraine’s largest institutional investor. It has deployed more than €4.5 billion in the country since 2022 and has secured agreement for a further €4 billion capital increase to continue lending at these levels in wartime, with the potential for more once full reconstruction begins.  Read more on the official website: https://rb.gy/6vg04q  #EBRD #EU #EU4BusinessEBRDCreditLineUkraine #EU4Business #WarInUkraine #StandWithUkraine