Donor contributions to Ukraine Energy Support Fund reached EUR 700 million

Donor contributions to the Ukraine Energy Support Fund have reached EUR 700 million.

Energy Minister Herman Halushchenko told Forbes Ukraine about this, the Ukrainian News agency reports.

"Since the creation of the Ukraine Energy Support Fund, it has been possible to collect EUR 700 million, most of which have been spent. Revenues are coming in constantly: from states, international organizations, and private business. This is an effective mechanism. How it works: we collect applications from energy companies that need repairs or new equipment, we transfer to the fund, they purchase and transfer to us. We focus on the equipment that is available, so as not to wait for the production of new ones. We ask the energy communities that operate this fund to focus on the earliest possible procurement opportunities," he said.

According to Halushchenko, 120 energy companies currently receive assistance from the Energy Support Fund.

"The problem is that when there is a big break in the shelling, less will be donated to the fund. This was the case in the second half of 2023. At all international meetings, we said: donate to the fund, because the situation can change dramatically. And this encouraged some countries and companies to donate more," he added.

As the Ukrainian News agency earlier reported, in October Germany allocated EUR 70 million for the procurement of cogeneration plants, generators and solar panels.

The Ukraine Energy Support Fund was established in the spring of 2022.