Finland Commits €28.5 Million to Strengthen Ukraine's Energy Sector Ahead of Winter

Helsinki, Finland – August 13, 2026

Finland has announced a €28.5 million investment to help rebuild Ukraine's war-damaged energy sector, reinforcing the country's electricity supply ahead of the challenging winter season.

The funding will be provided through Finland's development cooperation programme under the Finland–Ukraine Investment Facility (FUIF). The initiative supports the purchase of modern power plant technology from Wärtsilä Finland Oy, with the equipment to be manufactured in Vaasa, Finland.

The total value of the project is €46.5 million, with Ukraine financing the remaining costs. The new power generation facilities will be purchased by Ukraine's state-owned energy company, Ukrnafta, to improve domestic electricity production and strengthen the country's energy resilience as Russian attacks continue to target critical infrastructure.

According to Finland's Minister for Foreign Trade and Development, Ville Tavio, the project highlights Finland's internationally recognised expertise in energy technology while supporting both Ukraine's recovery and Finland's own economy.

"Finland has world-class expertise in the energy sector, which can benefit Ukraine's reconstruction efforts. I am pleased that Finnish technology and Finnish workers are playing a part in strengthening the security of Ukraine's energy supply. At the same time, this project supports Finnish exports and employment," Tavio said.

The Finnish government's contribution will cover the interest costs and principal of the investment loan that Ukraine will obtain for the project. Finland's export credit agency, Finnvera, is providing a 100% export guarantee, reducing financial risks and encouraging Finnish exports.

The investment comes as Ukraine prepares for another winter under the threat of attacks on its energy infrastructure. Reliable electricity generation is considered essential for maintaining heating, hospitals, public services and critical industries during the colder months.

The project also brings economic benefits to Finland by supporting manufacturing jobs in Vaasa and showcasing Finnish energy technology in Ukraine's long-term reconstruction efforts.

Sources:

1. Ministry for Foreign Affairs of Finland (Press Release, 13 August 2026)
2. Interfax-Ukraine