Three Norwegian companies will receive a total of NOK 40 million to invest in Ukraine
The companies, Emergy, Tschudi Logistics and Fenix Repower, are the first to receive funding through a corporate funding scheme for companies wanting to invest in Ukraine.
– Norwegian companies are eager to contribute to the rebuilding of Ukraine. It is gratifying to see that these three companies can now get started with specific projects. The Ukrainian energy sector has been particularly affected by the acts of war and partnerships with Norway are in demand for this area. It is also important for Ukraine to maintain the most normal trade possible with other countries in order to keep the economy going, says Cecilie Myrseth, Minister of Trade and Industry.
By supporting various pilot studies for projects in logistics and renewable energy, Norway is helping strengthen the Ukrainian economy, creating new opportunities for companies and local communities. The projects will facilitate better trade relationships, a more stable energy supply and more resilient infrastructure. This is key to the rebuilding of the country.
Norad manages civilian funding through the Nansen programme.
Bård Vegar Solhjell, Director General of Norad.
– Ukraine needs the business community to keep its defence efforts going and to rebuild more effectively. By supporting projects in the early phase, we will make it easier and less risky for companies to invest in Ukraine. The private sector contributes both value creation and functions such as logistics and energy infrastructure. This is crucial for a country at war,” says Bård Vegar Solhjell, Director General of Norad.
These companies will receive funding:
Emergy AS is one of the three companies awarded funding. It will receive NOK 30.1 million in funding for the project work required to develop a wind power farm. The Ukrainian energy system has been under heavy attack from Russia and the country has now started accelerating its work on more decentralised and renewable energy production.
We are very grateful that Norway has chosen to support Ukraine.
– With our experience and expertise in wind power development in Ukraine, we can make a difference in the crucial work to secure energy supply for the country. Since Emergy already has employees in Ukraine, this will result in synergies in the form of the effective development of the project, says Joar Viken, CEO of Emergy.
Tschudi Logistics Holding AS has been awarded NOK 8.0 million in funding for its project work to establish a logistics terminal in Ukraine to manage increased trade with other countries.
Fenix Repower AS has been awarded NOK 1.3 million to develop the technical, commercial and legal framework required to facilitate profitable projects that combine solar and wind power with battery storage in Ukraine, with the aim of optimising energy production and balancing the power grid.
The purpose of the call for proposals is to help promote investment-ready projects and facilitate increased levels of foreign investment. Priority has been given to the sectors that are crucial both to the situation faced by Ukraine now and for the rebuilding of the country. Both international and Norwegian companies were invited to apply to the call for proposals, which was announced last summer.