Call for Expression of Interest

How to apply

• To apply, please download and complete the Applicant Questionnaire and submit it together with any supporting documents per email, with the subject line UESF De-risking Mechanism - Expression of Interest – [Company Name].

• A Non-Disclosure Agreement (NDA) will be signed at a later stage.

•  Applicants are explicitly requested NOT to submit any confidential, commercially sensitive or proprietary data.

• For any questions or clarification requests, please, write to us. 

 

Eligibility Criteria

To be eligible for participation in the de-risking mechanism’s pilot phase, applicants must satisfy the following criteria:

• Auction winner status: the applicant (i.e. the project owner) must be a winner of Ukrenergo’s 2024 or 2025 special long-term auctions (the Auctions) for ancillary services and have subsequently signed the related offtake agreement with Ukrenergo.
• Bank financing: the applicant must have received (or have prepared to receive by Q3/2026) a loan for the project that won in the Auctions from one of Ukraine's Systemically Important Banks as per the decision of the National Bank of Ukraine.
• Capacity of de-risking pilot phase: based on the available donor funds, the cumulated project capacity included in the pilot phase is expected to be no more than 10 MW.

 

Selection process

Consultation process

Following the EoI submission deadline, the Secretariat will proceed with the selection of the pilot project(s) based on a consultation process with the applicants that satisfy the eligibility criteria as well as their commercial banks, in consideration of the following aspects:

• Operational readiness: projects must be either fully operational or expected to launch operations by Q3/2026.
• High maturity of the project in terms of operational performance, project owner experience, technology and supplier selection etc.
• Project’s region and  its distance from front lines.
• Financial rating of the project’s financing bank which shall be one of the “Systemically Important Banks” (according to the classification of the National Bank of Ukraine).
• Confirmed project pipeline: The applicant can demonstrate a confirmed pipeline for new energy project developments or expansion of existing project(s) that will benefit from the de-risking mechanism’s financing relief.
• Level of completeness of the submitted Applicant Questionnaire and documentation.

Priority in the selection of the pilot project(s) will be given to projects that demonstrate higher alignment with these selection aspects. The Secretariat reserves the right to take into account other relevant considerations necessary to ensure the successful implementation of the pilot. During the consultation process, Secretariat may

• contact applicants as well as their financing banks to align further details of the pilot phase and clarify open questions
• communicate further document submission requirements, e.g. to verify eligibility.

Upon completion of the consultation and selection process, the Secretariat will notify applicants that are selected to receive the de-risking coverage.

 

Provision of de-risking

The definitive provision of de-risking will be subject to:

• the project owner signing a de-risking agreement with the Secretariat, and
• the financing bank signing a guarantee support framework agreement with the Secretariat.

Subject to progress of the consultation and selection process, it is expected to operationalise the de-risking coverage of the pilot phase by Q4/2026.

The Secretariat maintains the right to extend the EoI submission deadline as well as to cancel or postpone the selection process. Furthermore, it reserves the right to select the pilot project(s) based on its overall assessment of the applications. The selection decision shall be final and shall not be subject to justification beyond notification of the outcome.