Norway and the European Union have agreed on new support for Ukraine’s energy security. Norway will allocate about €40 million (425 million Norwegian kroner) for the restoration and strengthening of Ukraine’s energy system.
This is stated in a press release by the Norwegian government.
The document says that after more than four years of full-scale war, Russian attacks have put a significant part of Ukraine’s energy system under severe pressure.
The funds are planned to be directed toward decentralized energy production, renewable energy, battery storage systems and local energy systems.
According to Norwegian Foreign Minister Espen Barth Eide, the funding should help Ukraine get through the next winter while at the same time building an energy system that is less vulnerable to attacks.
“Ukraine must get through the coming winter while building an energy system that is less vulnerable to attack. In cooperation with the EU, Norway is providing 425 million Norwegian kroner to strengthen Ukraine’s energy security. This funding will help Ukraine meet urgent needs while also contributing to its recovery, modernization and progress toward EU membership,” said Norwegian Foreign Minister Espen Barth Eide.
European Commissioner for Enlargement Marta Kos said that Norway’s support would help Ukraine prepare for winter and move closer to the EU energy system.
The funding will be provided through the EU’s Ukraine Investment Framework, which предусматривает the attraction of additional funds from banks and other financial institutions.
