Ukraine Needs $1 Billion to Fix Power Grid After Attacks

The Austrian government will allocate €5 million (around $5.4 million) to rebuild Ukraine's energy infrastructure following Russia's large-scale attack on May 8th.

The attack, primarily targeting energy infrastructure, struck the Poltava, Kirovohrad, Zaporizhia, Lviv, Ivano-Frankivsk, Kyiv, and Vinnytsia regions, forcing the decommissioning of at least two hydroelectric power plants.

According to Der Standard, the funding will come from the budget of Austria's Ministry for Climate Action and Energy. It will be distributed to Ukraine through the Energy Community, an international organisation that works to expand the European Union's internal energy market. The allocated funds will be used for spare parts, generators, and emergency repair lines.

"Austria, as a neutral country, must stand with humanity in this war," said Leonore Gewessler, Austria's Minister for Climate Action and Energy. Gewessler expressed hope that the additional funds "would at least help in some way with reconstruction."

Ukrainian Ambassador to Austria, Vasyl Khymynets, thanked the minister for a "strong signal of solidarity." Ambassador Khymynets said, "This financial assistance from the federal government is crucial to repairing energy infrastructure and keeping electricity flowing to the Ukrainian people. This assistance comes as Russia continues to target energy infrastructure through airstrikes and artillery shelling."

Ukraine's power generation capacity has dropped by up to 8 gigawatt-hours (GWh), leaving a nearly $1 billion gap that needs to be filled, according to Prime Minister Denys Shmyhal. Shmyhal had previously stated that Ukraine had allocated over 7.1 billion hryvnia (UAH 179.4 million) to repair its power grid after recent Russian strikes.

Translation by Iurie Tataru

Read more