Ukrainian households and businesses can participate in a new program from the European Bank for Reconstruction and Development (EBRD). The Energy Security Support Facility (ESSF) initiative provides €2 billion in funding to enhance energy resilience through local projects—ranging from the installation of residential solar power systems to small-scale hydropower.
This was reported by the EBRD in Ukraine.
Financing scheme
The ESSF provides grants for the implementation of energy projects, which will partially cover loan risks. The loans themselves are provided through a network of Ukrainian partner banks that have entered into portfolio guarantee agreements with the EBRD.
Grants are available to:
- small and medium-sized enterprises,
- sole proprietors,
- apartment or private house owners,
- Homeowners associations (HOAs).
Types of projects eligible for funding
The ESSF program covers a broad range of energy initiatives. In particular, support is provided for energy storage and renewable energy projects, including wind, solar generation, biogas, and small hydropower.
Within the program, funding is available for a wide array of works aimed at improving energy efficiency:
- building insulation,
- replacement of windows and doors,
- installation of heat pumps or solar collectors,
- equipment of solar power plants,
- installation of home energy storage systems.
The ESSF also envisions the creation of small generation facilities with capacity up to 50 MW – including gas-fired power stations and installations.
EcoPolitic previously reported that, according to estimates by YASNO, a solar power plant for businesses pays off in as little as two years.
