Last week, at the Ukraine Recovery Conference 2025 (URC2025) in Rome, Ukraine’s energy sector was in the spotlight. According to government data, over 200 agreements were signed during the forum, totaling more than €10 billion, with a significant portion allocated to energy – from renewables to nuclear projects, the gas industry, and distributed generation. Often, the outcomes of major events fall short of expectations. However, with URC2025 in Rome, the opposite happened. The results for Ukraine were significantly more meaningful than (let’s be honest) anyone had anticipated. Most of the positive impact was concentrated in the energy sector – a crucial area, as access to abundant, affordable energy is a fundamental driver of economic growth in today’s world.
Green Energy: Investments and Guarantees
One of URC2025’s key outcomes was the creation of the Ukraine Renewable Energy Risk Mitigation Mechanism (URMM) to attract investment in new renewable energy capacities. The EBRD and the European Commission announced URMM – a mechanism guaranteeing a minimum price for green electricity to reduce market risks. This tool is expected to mobilize up to €1.5 billion for the construction of new solar and wind power plants. The initiative has already been backed by the EU (€180 million) and the Netherlands (€12 million), with anticipated contributions from Germany, Sweden, Norway, and Switzerland.
Norway, together with UNDP, also launched a separate $200 million green energy recovery program. It targets both emergency energy sector interventions and the broader modernization of Ukraine’s infrastructure.
Nuclear Energy: Fuel and Reactors
Significant agreements were also reached in the nuclear sector. Energoatom and the U.S.-based Westinghouse Electric signed a declaration to establish nuclear fuel production in Ukraine for VVER-1000 reactors. Fuel assembly manufacturing will be set up at one of Energoatom’s facilities, eliminating Ukraine’s dependence on Russian fuel assemblies. Energy Minister Herman Halushchenko called this a strategic step towards Ukraine’s energy independence.
Another achievement was a memorandum between Energoatom and Holtec International to build a plant in Ukraine for manufacturing small modular reactors (SMRs) and containers for spent fuel storage using Holtec technology. The project will introduce advanced nuclear technologies and strengthen Ukraine’s technological sovereignty.
Gas and Distributed Generation
To enhance energy independence, Ukraine is focusing on distributed generation and modernization of the gas sector. PJSC Ukrnafta, with international partners, is launching six distributed generation projects with a total capacity of 420 MW. New gas-piston and gas-turbine power plants are planned to be commissioned in 2026 to reinforce energy system resilience.
Cooperation with Europe is also advancing in the gas transportation sector. The Gas Transmission System Operator of Ukraine (GTSOU) and Italy’s Snam S.p.A. signed a memorandum of cooperation. The companies will jointly explore LNG supply routes and the use of Ukraine’s underground gas storage facilities – strengthening regional energy security and promoting integration with Europe’s gas network.
Naftogaz of Ukraine signed a strategic memorandum with U.S.-based Baker Hughes for technological partnership. The agreement includes modernization of gas extraction and transportation, enhancement of storage efficiency, and implementation of advanced solutions (hydrogen technologies, carbon capture, etc.). Baker Hughes stated that the goal is to support energy independence and decarbonization of Ukraine’s sector.
International financial institutions are also providing resources to Ukrainian energy enterprises. The EBRD is allocating €160 million for Ukrnafta’s new gas generator installation projects.
Grids and Hydropower
Substantial funding is being allocated to restore Ukraine’s power grid. The EIB is providing €120 million to Ukrhydroenergo for the reconstruction of damaged hydroelectric power plants – helping to recover part of the lost capacity. Ukrenergo signed a memorandum with Italy’s Terna on synchronizing Ukraine’s power system with the European grid and exchanging expertise on high-voltage network management. Several countries (Germany, Italy, and others) announced new contributions to the international energy support fund for Ukraine – hundreds of millions of euros for equipment and emergency repairs.
International Partnership for Independence
The energy agreements concluded at URC2025 in Rome demonstrate that Ukraine’s recovery is not only a humanitarian mission but also a global-scale investment project. Ukraine has secured partnerships with leading companies and institutions – from Westinghouse and Holtec to the EBRD and Terna. Minister Herman Halushchenko emphasized that such cooperation accelerates sector modernization and brings Ukraine closer to energy independence. Overall, the conference highlighted something very important: even amid war, Ukraine is laying the foundation for a modern, decentralized, and green energy sector – with the support of the global community.
Denys Staggi