Norway to provide Ukraine about EUR 40 M to restore power grid

Norway has signed an agreement with the EU under which it will provide Ukraine with 425 million Norwegian kroner (approximately 40 million euros) for decentralized energy production, renewable energy, battery storage, and flexible local energy systems.

According to Ukrinform, this was reported on the Norwegian government’s website.

“Norway will provide 425 million Norwegian kroner [approximately 40 million euros] to help Ukraine restore the resilience of its energy system,” the statement reads.

It is noted that the assistance is focused on decentralized energy production, renewable energy, battery storage, and flexible local energy systems. This funding will strengthen the resilience of Ukraine’s energy supply, help accelerate recovery, and ensure the operation of critical services.

“Ukraine must get through the coming winter while building an energy system that is less vulnerable to attack. In cooperation with the EU, Norway is providing NOK 425 million to strengthen Ukraine’s energy security. This funding will help Ukraine meet urgent needs while also contributing to its recovery, modernisation and path towards EU membership,” said Norwegian Foreign Affairs Espen Barth Eide.

“Winter may seem far away, but preparations must be made now,” he added.

“Norway’s contribution represents promises in action. It will help Ukraine to prepare for the next winter and to come closer to the EU’s energy system, towards its place in the EU. Focusing on renewables and decentralised energy generation contributes to Ukraine’s energy security. It also brings Ukraine further in line with the current priorities of the EU through the green transition,” said European Commissioner for Enlargement Marta Kos.

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Support will be provided through the EU Investment Framework for Ukraine. This agreement is designed to mobilize additional financing from banks and other financial institutions.

As reported by Ukrinform, on Wednesday, May 6, Norway announced it would provide Ukraine with 2.8 billion Norwegian kroner (over USD 300 million) through the NATO initiative for the procurement of American weapons, the Prioritized Ukraine Requirements List (PURL).