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Ukraine and Japan to participate in modernizing thermal power plants and developing green projects

Ukraine and Japan to participate in modernizing thermal power plants and developing green projects In Ukraine, there is a desire to modernize thermal power plants with the participation of Japanese companies (photo:

The National Joint-Stock Company Naftogaz of Ukraine has signed a memorandum with two Japanese companies for the modernization of combined heat and power plants (CHP) and the development of a joint project in the field of green energy from wind power, according to the Naftogaz of Ukraine group.

The National Joint Stock Company Naftogaz of Ukraine signed the relevant document in Tokyo on the sidelines of the Japanese-Ukrainian Conference on Economic Development and Reconstruction.

According to the Group, the Japanese corporation Sumitomo Corporation (SC) will assist in conducting a technical and economic feasibility study for the modernization of heat supply systems in Ukraine with the support of the Japanese government.

Additionally, SC will help attract financing from Japanese state financial institutions.

Naftogaz expressed interest in modernizing domestic CHP plants using advanced Japanese technologies, as these plants were built long ago and now have an extremely outdated material base.

"The installation of 1 MW wind turbines is envisaged by the second memorandum signed by the Naftogaz Group with the Japanese company Komaihaltec," the release said.

Naftogaz added that the turbines are to be installed at one of the Group's facilities.

"This project is part of our movement towards achieving full carbon neutrality. It will allow us to replace the energy consumed by the facility from traditional sources with clean wind energy," said Naftogaz Group's head Oleksiy Chernyshov.

What is known about Japanese companies

Sumitomo is a large Japanese industrial and trading conglomerate with diversified business interests in various sectors worldwide. The group's total assets are estimated at around $90 billion.

The Japanese company Komaihaltec specializes in the production of wind turbines and other equipment for renewable energy.

Conference in Japan

Earlier it was reported that on February 19, a Ukrainian-Japanese conference on promoting economic growth and reconstruction was held in Tokyo with the participation of about 300 government and corporate officials from both countries.

It was revealed that yesterday, about 50 Japanese companies signed agreements with Ukrainian counterparts in areas such as agriculture, energy, and infrastructure.

Additionally, on February 19, Japanese Prime Minister Fumio Kishida, during a meeting with his Ukrainian counterpart Denys Shmyhal at the event's opening, expressed the country's intention to conclude a double taxation avoidance agreement with Ukraine. The parties will also begin negotiations to revise the investment agreement, which will allow Japanese companies to participate in reconstruction projects in Ukraine.