11 Jun 2024 19:03

Ukraine urges Europe to increase electricity supply capacity from 1.7 GW to 2.3 GW

BERLIN. June 11 (Interfax) - Ukraine is asking European partners to contribute as much as possible to increasing the permitted capacity of electricity supplies to the country to 2.3 GW.

"We need a political and technical solution to increase electricity imports to 2.3 GW," Ukrainian media quoted First Deputy Prime Minister and Economy Minister Yulia Sviridenko as saying at the Ukraine Recovery Conference (URC2024) in Berlin on Tuesday.

Permitted capacity is currently 1.7 GW.

Sviridenko said that in addition to import growth, three other energy sector priorities were rapid restoration where physically possible, commissioning up to 1 GW of capacity this year and another 4 GW over the next two years, as well as the allocation of credit funds.

"Equipment from your [European] decommissioned power plants and direct financial support are badly needed," she said.

"Analysis shows that reforms alone are not enough for economic growth. The only factor that can stimulate long-term growth is investment, this is the private sector's participation. If Ukraine wants to have a chance to catch up with EU countries in terms of GDP, we need investment or technology transfer of between $10 billion and $13 billion per year over the next 10 years. We need investors to come to Ukraine now," Sviridenko said.