CIF approves USD 116.2 million for Ukraine's grids, renewables and storage
The Climate Investment Funds (CIF) board approved an investment plan for Ukraine worth USD 116.2 million under the Renewable Energy Integration (REI) programme. The funds will go towards cross-border connections, renewable generation and energy storage, First Deputy Prime Minister and Energy Minister Denys Shmyhal announced.
The programme has two tracks, public and private. In the public track, an investment package worth about USD 200 million has been put together with the World Bank and NPC Ukrenergo.
The Chernivtsi–Suceava interconnector
A key project will be the 400 kV Chernivtsi–Suceava cross-border transmission line between Ukraine and Romania. According to the Ministry of Energy, the new interconnector will provide additional transfer capacity of 880 MW towards Ukraine and 445 MW towards European grids.
The public track also covers modernising and strengthening the protection of five high-voltage substations, engineering support for the projects, and upgrading Ukrenergo's IT, telecommunications and operational infrastructure.
Private track: 610 MW of BESS
The private track is being developed by the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD). It supports private investment in energy storage, including standalone BESS with a combined capacity of 610 MW. Support is also planned for renewable generation projects combined with storage and for other distributed energy solutions.