Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Ukraine

Geographic location where the impacts of the investment may be experienced.

Specific Location

Dnipro region

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Borrower

PJSC Ukrnafta

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy
Infrastructure

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

Not Disclosed

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

NTS, SEP, and ESAP

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 9, 2025

Disclosed by Bank May 8, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EBRD, the project entails the provision of a sovereign guaranteed loan to finance the construction of a combined-cycle co-generation power plant in Dnipro region of Ukraine with an estimated total generation capacity of up to 250MW.

The sponsor of the project will be PJSC Ukrnafta, the state - owned enterprise, Ukraine's largest oil and gas producer and operator of the largest fuel retail chain

Given the constrains with public disclosure of information, which can expose site location and other sensitive details, publication of ESIA on EBRD website will also be limited to Non-Technical Summary, Stakeholders Engagement Plan and Environmental and Social Action Plan, without indication of such sensitive information. Combined Cycle Gas Turbine project is also an exemption from national the national Environmental Impact Assessment process.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Information on the investment amount not provided at the time of disclosure.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated on the company's website, PJSC Ukrnafta is the largest oil producer in Ukraine. The Company's structure includes two business units "Ukrnafta East" and "Ukrnafta West", which incude six oil and gas production divisions and three gas treatment plants, Oilfield Services Division, which provides a full range of services to the petroleum industry, and Ukrnafta Drilling Division, engaged in exploration and production drilling.

PJSC Ukrnafta holds 86 production licences and 3 licences for geological exploration (including pilot development). The Company operates in the Sumy, Poltava, Chernihiv, Lviv, Ivano-Frankivsk, Chernivtsi, Dnipro, and Kharkiv regions of Ukraine. As of March 1, 2025, the company produced 1810 oil and 161 gas wells. UKRNAFTA's monobrand gas station includes 545 filling stations in almost all regions of Ukraine.

Ukrnafta's headquarters are located in Kyiv. Naftogaz of Ukraine owns 50%+1 share in the Company. On November 5, 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine resolved to transfer to the State a share of the Company's corporate rights held by private owners. This share is managed by the Ministry of Defence of Ukraine.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
Naftogaz	Parent Company	Energy	owns	PJSC Ukrnafta	Client	Energy

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - PJSC Ukrnafta:

Iryna Kyryliuk - Power Generation Department
Address: Vul. Sichovyh Striltsiv, 84A, office 3, 04050 Kyiv, Ukraine
Tel: +380442938574
Email: Iryna.Kyryliuk@ukrnafta.com
Website: www.ukrnafta.com

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html