Ignitis Group.Photo: Bendrovės nuotr.
Investments in the renewable energy sector in Ukraine
Ignitis Group, a leading renewable energy company, has announced a €4 million financial humanitarian aid contribution to the Energy Support Fund for Ukraine. The funds will be used to purchase equipment that will create an additional 120 MW of generating capacity in the war-torn country. Thanks to this initiative, the electricity generated at the new power plants will be able to meet the domestic needs of about 420,000 people, TimeUkraineIsrael reports with reference to the company’ s press service.
Protecting energy infrastructure
With Russia’s ongoing attacks on Ukraine’s energy infrastructure directly affecting the population, Ignitis Group’s assistance is extremely important. Darius Maikštenas, CEO of the company, said: “The ongoing attacks are aimed at the entire population of the country, which will face interruptions in electricity, heat and water supply as the cold weather approaches. The additional 120 MW of electricity that will be provided through our assistance can generate enough power to supply about twice as many households as in Vilnius.”
Promoting the recovery of the energy sector
Ignitis Group’s humanitarian aid will be directed to the Ukraine Energy Support Fund, established to provide financial support for the restoration of critical energy infrastructure affected by Russian attacks. The Fund, which is managed jointly with the European Commission, is being implemented in close cooperation with the U.S. Agency for International Development’s Energy Security Project and the Ministry of Energy of Ukraine.
The allocation of funds was officially approved on 8 October, following the signing of a contract between Ignitis Group and the Energy Community Secretariat. “The fund is likely to meet urgent energy needs, help save electricity in homes and unite nations. We hope that the example of Ignitis Group will inspire other EU energy companies to join this initiative,” commented Artur Lorkowski, Director of the Energy Community Secretariat.
Continued efforts to provide humanitarian assistance
Since the beginning of the war in Ukraine, Ignitis Group and its subsidiaries have been actively providing humanitarian aid. In particular, ESO has already delivered 7 batches of transformers, generators and other necessary equipment for the power grid, while Ignitis Gamiba has provided 3 cargoes of technological equipment to restore the destroyed energy infrastructure.
Thus, Ignitis Group continues to demonstrate its commitment to supporting Ukraine in these challenging times by providing not only financial but also reliable assistance in the recovery of the energy sector.
