PJSC Ukrnafta and the European Bank for Reconstruction and Development (EBRD) plan to build the most modern combined-cycle CHP plant capable of providing electricity and heat to the population, as well as generating steam for industrial processes.

As Ukrnafta reported in a press release on Thursday, Ukrnafta Director Serhiy Koretsky and the company's team held a working meeting with EBRD President Odile Renaud-Basso, EBRD Director for Eastern Europe and the Caucasus Matteo Patrone, EBRD Managing Director for Ukraine and Moldova Arvid Tuerkner and bank representatives.

"We discussed in detail the status of the projects that the company is already working on and outlined clear steps for planning additional financing for the construction of new modern generation," said Koretsky.

As reported with reference to the chairman of the supervisory board of Ukrnafta, Duncan Nightingale, the company is working on the implementation of projects to generate energy from its own gas with a total capacity of up to 370 MW.

In December 2024, the EBRD began procedures for the purchase of gas power plants under a loan and donor agreement with Ukrnafta.

The first purchase was announced for the supply of gas piston power plants and cogeneration units for three facilities with a total installed electrical capacity of about 70 MW.

The second purchase was announced for the supply of power plants with gas engines in containers with a total capacity of about 56 MW. These are modular units that can be moved depending on needs.

In early December 2024, Ukrnafta and the EBRD signed a EUR80 million loan agreement for the supply and installation of gas-fired distributed power plants and cogeneration capacities in various regions of Ukraine.

In addition, the EBRD loan will be co-financed by investment grants of EUR9.5 million from the Netherlands and EUR12.5 million from the United States, which will be channelled through a special EBRD fund, as well as a EUR1.8 million technical support grant from other donors.