Ukraine needs some UAH 300B for energy modernization program - Zelensky.

Ukraine has developed a detailed program of energy modernization, requiring about UAH 300 billion (US$9.82 billion) for its implementation.

That’s according to President Volodymyr Zelensky who spoke at a joint press conference with President of the European Council Charles Michel and European Commission President Ursula von der Leyen following a 23rd Ukraine-EU summit, an Ukrinform correspondent reports.

"We have a major program on energy saving, which concerns more than insulating each home. This program has already been developed in detail; we will discuss it with our colleagues from the European Union. For the program, Ukraine needs about UAH 300 billion," Zelensky said.

Read also: Energy efficiency should become national idea - Dombrovsky

According to the Ukrainian leader, the program provides for the replacement of energy grids across the country. Zelensky expects that the program will be implemented before the end of 2022.

He stressed that Ukraine must become energy independent, including through the expansion of nuclear generation. Zelensky also stressed the importance of maintaining gas transit via Ukraine.

According to the president, the possibility of applying the EU's Third Energy Package to the Nord Stream 2 gas pipeline was also discussed during the Summit.

Read also: Shmyhal: Economic advantage of synchronization with ENTSO-E estimated at $1.5B a year

As reported, Ukraine and the European Investment Bank within the technical support of the "Energy Efficiency in Public Buildings in Ukraine" project will conclude grant agreements amounting to EUR 2 million.

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