Since October 2022, Ukraine's energy infrastructure has been specifically targeted by extensive drone and missile attacks from Russia. These attacks intensified significantly in March 2024. By May 2024, Ukraine had lost nearly 9 GW of its power generation capacity, with about 60% of its energy generation facilities either destroyed, damaged, or seized. This heavy pressure has forced Ukrainian businesses and society to adapt to frequent power outages, invest in backup power sources, and explore sustainable energy solutions.

The Ukrainian government, local municipalities, the private sector, and international financial institutions are all prioritizing investments to revitalize the energy sector. The reconstruction needs for Ukraine’s energy and extractive industries have already exceeded SEK 516 billion, according to joint assessments by the Ukrainian government, World Bank Group, European Commission, and United Nations (RDNA3). This situation presents significant opportunities for international businesses to contribute to the reconstruction efforts. Given the evolving landscape, Swedish energy companies could play a crucial role in Ukraine’s recovery, supporting a smooth transition to a greener and more sustainable economy.

In January 2024, the first webinar in a partnership between BuS Ukraine and the Ministry of Energy of Ukraine took place. The second webinar was to highlight the recent changes and stimuli provided by the government to overcome the challenges and prepare for the upcoming 2024-2025 winter season as well as recent developments aimed at boosting distributed generation introduction in Ukraine. Along with updated information from the government, we presented a Guide for Swedish Companies on Opportunities in the Energy Sector of Ukraine, to showcase new financing mechanisms available and successful cases of cooperation and highlight the significant business opportunities Ukraine offers for energy companies in terms of trade and investment. The guide is available on our Reports Page at the following link.

Agenda (CET):

11:00 – 11:05

Opening Remarks and Introduction: Mr. Andreas Giallourakis, Sweden’s Trade Commissioner to Ukraine, Business Sweden

11:05 – 11:20

Keynote Presentation – Government Response to the Emergency in the Energy Sector, Opportunities for Swedish Companies to Contribute to Recovery: Roman Andarak, Deputy Minister, Ministry of Energy of Ukraine

11:20 – 11:30

Ukraine Energy Support Fund: Procurement of Critical Energy Equipment for Ukraine: Mr. Eric Gagnon, Procurement Director, Energy Support Fund

11:30 – 11:40

How to Utilize Financial and Investment De-risking Tools Available on Ukrainian Market. Presentation of Guide for Swedish Companies on Opportunities in the Energy Sector of Ukraine: Oksana Tkachuk, Energy and Electricity Lead, Business Sweden Kyiv

11:40 – 11:50

Investments in the Energy Sector in War Times. Key Insights from the Private Sector: Fenix Repower, Iryna Bernatska CFO, General Manager Ukraine

11:50 – 12:00

Q&A session: Mr. Andreas Giallourakis, Sweden’s Trade Commissioner to Ukraine, Business Sweden