Szmyhal estimated that the costs of this process may reach up to USD 91 billion.
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The estimates presented by the Ukrainian authorities coincide with the analyzes of the World Bank, according to which the reconstruction of the energy sector will take at least 10 years. The scale of destruction is enormous – since 2022, Russian attacks have damaged or destroyed most power plants and thermal power plants.
Szmyhal emphasized that the reconstruction process will require not only public funds, but also the involvement of private capital.
— Ukraine will also need private capital to implement such investments, he noted during the discussion “Global partnership for Ukraine: strategic opportunities in the energy sector.”
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Key investment directions in Ukraine
The debate took place in Houston as part of the CERAWeek energy conference. The Ukrainian minister pointed out that the future of the sector will be based on several pillars. He mentioned the most important ones development of renewable energy, construction of gas power plants, increased gas extraction and investments in local energy networks.
These areas are intended not only to help rebuild the system, but also to increase its resilience to future crises.
Support from the US
During his visit to the United States, Szmyhal met with the American Minister of Energy Chris Wrigth. The talks concerned possible financial support for Ukraine.
According to the Ukrainian Ministry of Energy, A loan of USD 1.4 billion is at stake, which would be used to rebuild the sector in cooperation with US partners.
