Renewable Acceleration and Market Development for Ukraine Project (WB-P515275)

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.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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."
Voting Date
Sep 30, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Ukraine - National Development Institution
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 320.00 million
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.
Project Cost (USD)
$ 370.00 million
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
Primary Source

Original disclosure @ WB website

Updated in EWS Aug 25, 2026

Disclosed by Bank Mar 18, 2026

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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.

According to the Bank’s website, the PDO is to enable large-scale investments in renewable energy and battery storage in Ukraine.

The proposed Project is structured two components implemented by the Business development fund (BDF) of Ukraine:

Component 1 (USD50 million): Capitalization of a market-based risk mitigation mechanism, accessible to renewable developers through competitive tenders, with seed grant funding of USD 50 million. This mechanism is being designed together with IFC and EBRD and will involve the creation of a fund managed by a third party, that will receive contributions for several sources. The mechanism will also involve the launch of a competitive process to award projects that will benefit from the risk instruments, as well as the contractual arrangements to operationalize the mechanism. This Component will be the first cofinancing operation of the WBG with EBRD in Ukraine, as part of the existing framework agreement for collaboration. EBRD will contribute with funding resources (grants and EU guarantees to fund the derisking mechanism).

Component 2 (USD 20 million as initial resources): Concessional financing for distributed generation, with grant funding of USD 20 million. This component will be directly implemented by the BDF that will offer capital grants to households and small and medium enterprises to support the installation of solar rooftop systems with and without storage.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The overall residual risk to the achievement of the PDOs is rated Substantial.

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

Total Project Cost: US$ 370.00 million
Grant Amount: US$ 320.00 million (US$ 250.00 million: European Bank for Reconstruction and Development; US$ 70.00 million: Ukraine Relief, Recovery, Reconstruction, and Reform TF)


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.

World Bank
Silvia Martinez Romero
Lead Energy Specialist

Borrower/Client/Recipient
Ukraine

Implementing Agencies
National Development Institution

ACCESS TO INFORMATION

To submit an information request for project information, you will have to create an account to access the Access to Information request form. You can learn more about this process at: https://www.worldbank.org/en/access-to-information/request-submission

ACCOUNTABILITY MECHANISM OF THE WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint

How it works

How it works