Over 1GW generating equipment to be imported by Ukraine by year end - energy minister

MOSCOW. Oct 10 (Interfax) - Over 1GW generating equipment will be imported by Ukraine before the end of this year, Ukrainian Energy Minister German Galushchenko said.

"I am sure that various sorts of equipment with a capacity totaling over 1 GW will be imported. Hopefully, most of it will be connected before the end of this year," Ukrainian media quoted Galushchenko as saying at the Forbes Business Energy conference.

A lot of equipment has been supplied to various cities, but not all of it will be connected in December, he said.

Much equipment has been imported by businesses, Galushchenko said. "Importantly, the process is being developed by both state-run companies and businesses, which are importing such equipment on a large scale. This is proven by the issued permits. Businesses are importing to meet their own needs above all, yet there are also many players importing as active consumers and planning to sell electricity on the market," he said.

Gas generation is designed by its characteristics to operate during peak consumption, yet it can help supply power to critical infrastructure, as well, in the event of a prolonged power outage, Galushchenko said.

The Ukraine Energy Support Fund, founded in 2022, has accumulated about 700 million euros for reconstruction of Ukrainian energy facilities, Galushchenko said.

"As of this day, the Support Fund has accumulated around 700 million euros, most of which have been spent. Contributions from states, international organizations and private companies are continuing. This is a great support mechanism," he said.

"We have over 120 energy companies participating in the fund's program," Galushchenko said.

Those wishing to receive assistance from the Fund need to apply to the Energy Ministry and declare their needs, he said.

As reported, the Ukraine Energy Support Fund was established in spring 2022 at the initiative of Galushchenko and European Commissioner for Energy Kadri Simson. The fund has received contributions from Germany (around 300 million euros), Australia, the UK, Austria, Sweden, Iceland and Estonia among others.