Shmyhal reveals staggering figures for rebuilding Ukraine’s energy sector

Rebuilding Ukraine’s energy sector will cost $90.6 billion, according to the World Bank. Since the government cannot cover this amount alone, investors are being offered five main areas for joint development of the energy system, Ukrainian Energy Minister Denys Shmyhal said.

"It is impossible to meet these requirements through government investment alone. We need to pool resources via public-private partnership mechanisms on mutually beneficial terms," Shmyhal said.

He shared the information during a conversation between President Volodymyr Zelenskyy and international business representatives, attended by the President’s economic development adviser, Chrystia Freeland.

"We are not just relying on business solidarity, but offering concrete, profitable investment projects," Shmyhal said.

The energy minister outlined five priority areas to strengthen Ukraine’s power grid and prepare it for the next winter:

- Energy storage systems (BESS) to balance generation fluctuations;

- Renewable energy, including wind and hydro power;

- Flexible gas generation (gas turbines and cogeneration);

- Local Smart Grid networks for communities and businesses

- Aggregation development, enabling households to participate competitively in the market.

"We are interested in investment in our energy sector, counting on joint projects. We need to achieve as much as possible ahead of the next heating season," Denys Shmyhal said.

World Bank estimates indicate that such steps would gradually ease the load on state-owned generation and secure energy independence for critical infrastructure.