Naftogaz to continue pursuing its renewable energy projects with EBRD support - CEO

MOSCOW. Jan 18 (Interfax) - Naftogaz of Ukraine will continue to implement alternative energy projects with support from the European Bank for Reconstruction and Development (EBRD) and plans to start building two renewable-energy power plants next year, Ukrainian media reported citing Naftogaz CEO Alexei Chernyshov.

"Even though it has increased gas and oil production, Naftogaz attaches priority to ramping up the implementation of alternative energy projects. You know that we've implemented projects in the solar energy sector, and we'll be doing more. Apart from that, we plan to start two wind farm projects this year," Chernyshov said on the sidelines of the Davos Ukrainian Breakfast 2024.

Naftogaz is beginning to design renewable-energy power plants and should start building them in 2025, "if everything goes right," he said.

"We are also considering other projects, and international finance organizations support and help us. I am sure we'll get this done. Any type of power generation is very important for Ukraine now," he said.

The EBRD is Naftogaz's strategic partner, having provided it with its Emergency Credit Line to buy gas if there is an emergency, Chernyshov said. He insisted, however, that Ukraine has used exclusively its own gas during this winter period.