--- title: "Shmygal: Ukraine's energy sector will need at least $91 billion over the coming decades" description: "Ukrainian Energy Minister Denis Shmygal assessed the energy sector's needs at a minimum of $91 billion over the coming decades. He gave this estimate during a dialogue with Canadian entrepreneurs, emphasizing a focus on private investment rather than aid." date: 2026-09-12T04:22:01.000Z lang: en url: https://xab.info/en/posts/shmigal-ukraine-energy-91-billion-dollars tags: [ukraine-energy, investment, canada, shmygal, energy-sector, europe-energy-market] publisher: "XAB.info" --- # Shmygal: Ukraine's energy sector will need at least $91 billion over the coming decades ![Dmytro Shmyhal speaking about the $91 billion needed to invest in Ukraine's energy sector](https://xab.info/media/2026/09/12/shmigal-ukraina-energetika-91-mlrd-dollarov/shmigal-ukraina-energetika-91-mlrd-dollarov-1.webp) ## 🎯 Key Points - Ukraine's energy sector will need at least $91 billion for restoration and development over the coming decades - In February 2026, a Memorandum on Strategic Cooperation between Ukraine and Canada in the energy sector was signed, with an emphasis on investment - Three tiers of financing for the new energy sector have been created; the deadline for issuing technical conditions has been shortened from 10 to 2 days - A tender for 1.5 GW of new high-maneuver generation has been launched; auction support in 2026 has grown to 1 GW - Ukraine risks failing to join the single European energy market due to debts and price caps Denis Shmygal, First Deputy Prime Minister and Minister of Energy of Ukraine, gave a large-scale assessment of the national energy sector's needs: according to him, the country will require no less than 91 billion dollars over the coming decades. This is not only about restoring damaged infrastructure, but also about large-scale investments in a new generation of power generation and the development of the energy sector as a whole. RBC-Ukraine reports this, citing Shmygal's post on Telegram. ### Dialogue with Canadian business and a focus on investment The head of the Energy Ministry gave this assessment during a dialogue with Canadian entrepreneurs, in which Ukrainian President Volodymyr Zelenskyy took part. Shmygal emphasized that Ukraine is interested not only in partner assistance but also in attracting private investment into the energy sector. "In February, together with our Canadian counterpart Tim Hodgson, we signed a Memorandum on Strategic Cooperation between Ukraine and Canada in the energy sector. Its main substance is not 'aid' but 'investment.' The political doors are open. Now it is business's task to come with concrete projects," the minister stated. ### Simplifying conditions for investors and three tiers of financing According to Shmygal, Ukraine is already working on simplifying conditions for investors and developing a new generation of power generation. In particular, three tiers of financing for the new energy sector have been created. The procedure for connecting a new generation to the power system has been shortened: the deadline for issuing technical conditions has been reduced from 10 to 2 days, and the number of required documents from seven to two. These measures, as intended by the authorities, are meant to lower entry barriers for private investors and accelerate project implementation. ### 1.5 GW of new high-maneuver generation and increased auction support Against the backdrop of the reforms, a tender has been launched for the construction of 1.5 GW of new high-maneuver generation. The scale of auction support in 2026 has been increased more than threefold β€” to 1 GW. This indicates that Kyiv is betting on diversifying generation and reducing dependence on outdated capacities, which were largely damaged over the years of the conflict. ### Strategic vision: transatlantic energy chains Shmygal noted that Ukraine could be of interest to Canadian energy business thanks to a large market integrated into the EU, as well as significant demand for energy capital and equipment over the coming decades. "Canada, in turn, has long-term capital, technologies, engineering, and financial risk-mitigation instruments. We propose to combine these advantages, form new transatlantic energy chains, ensure the energy security of Ukraine and Europe, and strengthen Canada's economic presence in the European energy market," the minister stated. ### Context: problems of integration into the European energy market It should be noted that, in parallel with seeking new investors, Ukraine faces a number of systemic problems. It was previously reported that the country risks failing to join the single European energy market due to debts: the European side directly links further market integration with resolving the debt issue. Moreover, Ukraine underutilizes electricity imports from the EU β€” artificial price caps on the domestic energy market hinder the full use of import capacities. Thus, attracting the 91 billion dollars will only be possible if both investment and regulatory issues are resolved comprehensively. ## πŸ” Fact-Check Verification - [Shmygal named the amount Ukraine's energy sector will need over the decade](https://www.rbc.ua/ukr/news/shmigal-nazvav-sumu-ka-znadobitsya-ukrayinskiy-1789177635.html) - ΠŸΡ€ΡΠΌΠΎΠ΅ ΠΏΠΎΠ΄Ρ‚Π²Π΅Ρ€ΠΆΠ΄Π΅Π½ΠΈΠ΅ ΠΎΡ†Π΅Π½ΠΊΠΈ Π² 91 ΠΌΠ»Ρ€Π΄ Π΄ΠΎΠ»Π»Π°Ρ€ΠΎΠ² ΠΈ контСкста Π΄ΠΈΠ°Π»ΠΎΠ³Π° с канадскими прСдприниматСлями - [EU loan will not go toward energy restoration: Shmygal said where the funds will come from](https://www.rbc.ua/ukr/news/kredit-es-pide-vidnovlennya-energetiki-shmigal-1777203360.html) - ΠŸΡ€ΡΠΌΠΎΠ΅ ΠΏΠΎΠ΄Ρ‚Π²Π΅Ρ€ΠΆΠ΄Π΅Π½ΠΈΠ΅ ΠΎΡ†Π΅Π½ΠΊΠΈ Π² 91 ΠΌΠ»Ρ€Π΄ Π΄ΠΎΠ»Π»Π°Ρ€ΠΎΠ² ΠΈ контСкста Π΄ΠΈΠ°Π»ΠΎΠ³Π° с канадскими прСдприниматСлями - [The West will send Ukraine 375 million euros for energy restoration: Shmygal](https://armenpress.am/ru/article/1254000) - ΠžΡ‚Π΄Π΅Π»ΡŒΠ½Ρ‹ΠΉ Ρ„Π°ΠΊΡ‚ ΠΎ 375 ΠΌΠ»Π½ Π΅Π²Ρ€ΠΎ Π·Π°ΠΏΠ°Π΄Π½ΠΎΠΉ ΠΏΠΎΠΌΠΎΡ‰ΠΈ (июнь 2026); Π½Π΅ ΠΏΡ€ΠΎΡ‚ΠΈΠ²ΠΎΡ€Π΅Ρ‡ΠΈΡ‚ ΠΎΡ†Π΅Π½ΠΊΠ΅ Π² 91 ΠΌΠ»Ρ€Π΄, Π° дополняСт ΠΊΠ°Ρ€Ρ‚ΠΈΠ½Ρƒ финансирования - [The West promised Ukraine 375 million euros for energy, Shmygal stated](https://1prime.ru/20260625/ukraina-871051760.html) - ΠŸΠΎΠ΄Ρ‚Π²Π΅Ρ€ΠΆΠ΄Π΅Π½ΠΈΠ΅ Ρ„Π°ΠΊΡ‚Π° ΠΎ 375 ΠΌΠ»Π½ Π΅Π²Ρ€ΠΎ, Π΄Π°Ρ‚ΠΈΡ€ΠΎΠ²Π°Π½ΠΎ 25.06.2026; согласуСтся с источником 3 ## ❓ FAQ ### Q: How much money, according to Shmygal's estimate, will Ukraine's energy sector need? **A:** No less than 91 billion dollars over the coming decades. The amount includes both the restoration of damaged infrastructure and investments in a new generation of power generation. ### Q: Where did Shmygal give this estimate? **A:** During a dialogue with Canadian entrepreneurs with the participation of Ukrainian President Volodymyr Zelenskyy. The post was published on the minister's Telegram channel. ### Q: What has been signed between Ukraine and Canada in the energy sector? **A:** In February 2026, Denis Shmygal and his Canadian counterpart Tim Hodgson signed a Memorandum on Strategic Cooperation between Ukraine and Canada in the energy sector. Its key focus is attracting investment, not aid. ### Q: What reforms have been carried out to attract investors into the energy sector? **A:** Three tiers of financing for the new energy sector have been created, the deadline for issuing technical conditions for connection to the power system has been shortened from 10 to 2 days, and the number of required documents has been reduced from seven to two. ### Q: What problems are hindering Ukraine's integration into the European energy market? **A:** The European side links market integration with resolving Ukraine's debt issue. Moreover, artificial price caps on the domestic market hinder the full use of electricity imports from the EU.