Norway is allocating NOK 500 million ($54 million) to support Ukraine's energy sector, announced Ukraine's First Deputy Prime Minister and Minister of Energy Denys Shmyhal.
Shmyhal said the funding had been announced by Norwegian Minister of Energy Terje Aasland during a meeting in Kyiv.
"Following our discussions, we signed a Memorandum on Strengthening Energy Partnership. The document updates the memorandum signed in June 2024 and reflects new priorities in the energy sector established under the strategic partnership between Ukraine and Norway," the Ukrainian Energy Minister said.
He added that the meeting focused on the main areas of cooperation outlined in the document: restoring and developing electricity generation capacity, particularly hydropower and other renewable energy sources; developing decentralised generation and energy storage systems; improving the reliability of electricity supply and the resilience and flexibility of the power system; and cooperation in the gas sector.
"Particular attention was paid to attracting investment for the reconstruction, development and modernisation of Ukraine's energy infrastructure," Shmyhal emphasised.
As previously reported, citing Norway's Ministry of Energy, an energy cooperation agreement was signed on 27 October during Norwegian Energy Minister Terje Aasland's visit to Ukraine. Its key elements include deepening cooperation, exchanging expertise and facilitating private investment in the energy sector.
The Norwegian Ministry of Energy explained that an agreement on energy cooperation between Norway and Ukraine had originally been reached in 2024 and has now been updated to reflect the joint strategic partnership agreement signed in August 2026 by Norwegian Prime Minister Jonas Gahr Støre and Ukrainian President Volodymyr Zelenskyy (the Ellisiv Agreement).
Aasland stressed that Norway has supported Ukraine since Russia launched its full-scale invasion and will continue contributing to the country's energy production.
