ESMP Ukraine

Connecting...

Find bankable, resilient clean-energy projects
in Ukraine.

Ukraine needs distributed energy resilience, not just green megawatts. ESMP helps investors, foundations, MDBs and municipalities identify where capital can survive missile risk, scale through reconstruction, and matter for energy independence — with deterministic financial models and source-linked data on every number.

What This Is — in four lines

What is this?A pre-investment screening platform for green-energy projects in Ukraine. Information digital twins of cities + an AI-assisted analyst that drafts investor-grade memos.
Who is it for?Investors, family offices, foundations, MDBs/DFIs, IPPs, and Ukrainian municipalities preparing fundable projects.
What problem?War risk, grid attacks, regulatory chaos and donor overlap make Ukrainian projects hard to screen. Capital sits on the sidelines while distributed resilience is needed now.
What can I do now?Run a playbook above · explore 11 data layers across 4 MVP cities · read the methodology · review the risk framework.

Why now?

Grid vulnerability

Russian strikes have repeatedly knocked out >50% of Ukraine's centralised generation. Distributed renewables + storage are the only hedge.

War-driven decentralisation

Hospitals, water utilities and shelters need autonomous power. Microgrids are no longer optional.

Reconstruction finance

$486B Ukraine RDNA. Capital is mobilising, but pipeline-quality projects with verified data are scarce.

Energy independence

Every MW of domestic renewables reduces fossil import dependence and frees fiscal space.

EU integration

Ukraine's 2030 RES targets and EU acquis alignment open ETS, CBAM-safe and Article 6 ITMO revenue.

Donor coordination

EBRD, IFC, USAID, KfW, EIB all chasing similar opportunities — ESMP surfaces gaps and overlap.

Ukraine Energy Security Marshall Plan

Protect Ukraine — Protect the Planet

The Ukraine Energy Security Marshall Plan (UESMP) is a strategic initiative to bring investments in distributed clean energy systems to accelerate Ukraine's energy security, weaken Russia's war economy, and advance the global clean energy transition. Authored by Alex Cornell du Houx through Elected Officials to Protect America (EOPA), with the PVBLIC Foundation and aligned partners, it pairs AI-powered municipal digital twins with blended finance so cities can rapidly design, finance, and deploy resilient local energy systems — embedding affordability, resilience, and security into the infrastructure that civilian life depends on.

Program Lines of Effort

1

Leadership & institutional capacity

The Public Leadership Certificate (PLC) and Master's in Public Leadership with the University of San Francisco — energy security, AI-enabled planning, climate finance and governance — teams compete for a Policy Prize that drives real reform.

2

AI digital twins & sovereign data

Deploy AI-enabled digital twins and secure, sovereign data infrastructure across Ukrainian and partner municipalities for energy-security planning, resilient deployment, and reconstruction readiness.

3

Investment & financing alignment

Convene PVBLIC's global network of family offices, philanthropy, multilaterals and private capital — in coordination with the Office of the President of Ukraine — to mobilise blended finance and technology transfer.

4

Municipal & cross-sector coordination

Municipal coordination mechanisms, strategic financing structures, and cross-sector partnership frameworks that turn plans into deployment at both national and local levels.

5

Climate & energy-security diplomacy

Support Ukrainian delegates at COP, the Ukraine Recovery Conferences, the UN General Assembly, Climate Weeks, and the Yalta European Strategy (YES) Annual Meeting.

How investments map — delivery strategies

Every ESMP memorandum maps shortlisted opportunities to one or more delivery strategies:

1

Direct Aid

Grant-funded installations on critical infrastructure — hospitals, schools, shelters.

2

Sister Cities

US & EU municipalities paired with Ukrainian counterparts for co-investment and knowledge transfer.

3

Distributed Resilience

Decentralised solar + storage microgrids hardened against grid disruption from missile strikes.

4

Cross-funder Coordination

Aligning EBRD, IFC, USAID, KfW and private capital to avoid overlap and maximise impact.

5

IRA Leverage

Structuring projects so US-connected entities can claim Inflation Reduction Act clean-energy credits.

11 Data Layers per City

Each city twin is a structured JSON document. Every numeric value carries provenance: source URL, retrieval date, and a 0–1 confidence score. See the Sources & Provenance page for the full per-field index.

economyGRP, budget, industries, salary
demographicsPopulation, IDPs, age, migration
socialSchools, hospitals, universities
crimeCrime rate, corruption, trust
energyPeak demand, RE installed, grid loss
investmentFDI, industrial parks, investors
militaryFrontline distance, strikes, risk
governanceCouncil, contacts, officials
regulatoryGreen tariff, permits, incentives
infrastructureRoads, transit, fiber, water
renewablesSolar, wind, biomass, rooftop

4 MVP Cities

Indicative figures. Click Sources & Provenance for source URL, retrieval date, confidence and method per field.

Kyiv

Capital
Population2.95M
GRP$38.4B
War-risk4.6 / 10
Solar1,180 kWh/m²/yr

Kharkiv

Frontline
Population1.24M
GRP$9.8B
War-risk8.4 / 10
Solar1,240 kWh/m²/yr

Lviv

Rear Hub
Population740K
GRP$6.1B
War-risk2.1 / 10
Solar1,120 kWh/m²/yr

Pustomyty

Small Municipality
Population15.2K
GRP$240M
War-risk1.8 / 10
Solar1,140 kWh/m²/yr

How It Works

ESMP is an AI-assisted screening engine with deterministic financial models and source-linked data. It is not a black-box LLM and not investment advice — it is a research tool that compresses weeks of desk-based screening into minutes, with every number traceable.

Human-in-the-loop validation

STEP 1
AI drafts

A Claude (Anthropic) reasoning model plans the analysis, picks tools, and writes prose — never the numbers.

STEP 2
Deterministic Python computes

numpy-financial calculates IRR / NPV / payback. War-risk and corruption scores use fixed formulas.

STEP 3
Sources attach

Every figure carries source URL, retrieval date and confidence. No silent assumptions.

STEP 4
Analyst reviews

Outputs are screening drafts. A human analyst signs off before any memo leaves ESMP.

STEP 5
Confidence visible

You see the 0–1 confidence score on every layer; low-confidence fields are flagged.

Important — ESMP outputs are preliminary screening only. They are not investment advice, legal advice, or a substitute for due diligence. Any project requires full legal, technical, environmental, security and financial due diligence before commitment of capital. War-risk and corruption scores are model estimates, not guarantees.

Featured Case Study — Pustomyty, Lviv Region

A community of 15,204 people, 20 km from Lviv and ~1,000 km from the nearest active frontline. The municipality submitted a verified ESMP Municipality Data Request in May 2026 with a ranked 4-project pipeline, monthly meter readings from its Umuni energy-management platform, and explicit 10% co-financing capacity. Below: headline economics from the April 2026 EOPA Investment Brief.

Rooftop PV + BESS8–12 buildings · ~€0.7M · behind-the-meter · IRR ~11% · payback ~8 yrs
5 MW solar farm~€4.5M · corporate PPA · net €0.45–0.54M/yr · IRR 8–10% · payback ~8–10 yrs
200 kW biogas (CHP)~€0.65M · net ~€0.16M/yr · IRR ~24% · payback ~4 yrs
Anchor portfolio~€5.85M total · ~€0.79M/yr · blended payback ~7.5 yrs

Off-take basis (deterministic, via finance_calc): utility-scale output is modelled at a corporate PPA of €95–110/MWh for grid feed-in — not the retail tariff. Rooftop output is valued behind-the-meter at the avoided retail cost (~€150/MWh self-consumption); biogas is power-only with district-heat (CHP) revenue as upside. Assumptions: 13% solar capacity factor, 20-year life, 9% discount — see Methodology. These are screening estimates, not a closing memo. Regulatory tailwind: Ukraine Law No. 4777-IX in force since 11 March 2026 (flexible grid connection, FiP replaces CfD, green auctions to 2034). Municipality contact: Khrystyna Baran, Energy Management focal point — routed via ESMP (contact@energysecuritymarshallplan.org).

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Guided playbooks
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Methodology

Every numeric output ESMP shows is produced by an explicit, reproducible formula. The LLM picks tools and writes prose. The Python tools below compute the numbers. This page documents what each formula does, what inputs it consumes, and what its limits are.

1. Financial: IRR, NPV, Payback

Computed by finance_calc using the numpy-financial library. The LLM never does arithmetic.

Inputs

FieldUnitDescription
capex_eurEURTotal capital cost, year 0 outflow.
capacity_mwMWNameplate generation capacity.
capacity_factor0–1Annual energy / (capacity × 8760 h).
ppa_eur_per_mwhEUR/MWhConstant offtake price (or LCOE proxy).
opex_pct_per_year0–1O&M as fraction of capex per year.
life_yearsyearsProject life for cash-flow horizon.
discount_rate0–1WACC / hurdle rate for NPV.

Annual energy & revenue

annual_energy_mwh = capacity_mw × 8760 × capacity_factor annual_revenue_eur = annual_energy_mwh × ppa_eur_per_mwh annual_opex_eur = capex_eur × opex_pct_per_year annual_cashflow = annual_revenue_eur − annual_opex_eur

Cash-flow stream

cashflows = [−capex_eur, cf, cf, ..., cf] # length = 1 + life_years

NPV (net present value)

NPV = Σ (cashflow_t / (1 + discount_rate)^t) for t = 0..life_years

IRR (internal rate of return)

numpy_financial.irr(cashflows) — the discount rate that makes NPV = 0. Returns NaN if no real root exists (typical when cumulative revenue never recovers capex).

Payback period

payback_years = capex_eur / max(annual_cashflow, ε) # simple, undiscounted

Discounted payback is exposed as payback_discounted_years when the LLM requests it.

Limits

  • Constant cash-flow assumption — no degradation, no PPA escalation. Sensitivities are explicit, not modelled.
  • Pre-tax, pre-debt. Project IRR, not equity IRR.
  • Currency: EUR. FX risk is flagged as a separate risk category, not modelled in the cash flow.

2. War-risk score (0–10)

Computed by warrisk_score. A weighted composite of four observable signals. Higher = more dangerous.

Formula

war_risk = w1 · strike_intensity + w2 · grid_damage_index + w3 · frontline_proximity + w4 · air_defense_uncertainty default weights: w1 = 0.35, w2 = 0.25, w3 = 0.30, w4 = 0.10 final value clipped to [0, 10] and rounded to 1 decimal

Component definitions

ComponentSourceNormalisation
strike_intensityACLED event counts · Ukrainian official strike reports · NASA FIRMS thermal anomaliesstrikes per 100k pop / month, log-scaled to 0–10
grid_damage_indexUkrenergo / DTEK incident reports · satellite night-light delta (NOAA VIIRS)fraction of substations / generation capacity offline 12-month rolling
frontline_proximityISW / DeepState frontline geometry1 − min(distance_km / 300, 1), so <30 km → ~1
air_defense_uncertaintyOpen-source defence reporting; analyst override0–1 subjective, default 0.5 with confidence flag

Limits

  • Backward-looking. Past strikes do not guarantee future strikes (or absence).
  • Air-defense component is judgemental and carries low confidence by default.
  • Score is a screening signal, not an insurance underwriting input.
  • War-risk financing mitigants (MIGA/DFC pricing and Ukraine's State Compensation Mechanism) are surfaced separately by miga_quote and the SCM block — the score itself stays hazard-only.

3. Energy demand

Pulled from the city energy layer (peak_demand_mw, annual_consumption_gwh). Source: Ukrenergo regional load reports + oblast statistical bulletins. When the LLM needs implied per-capita demand:

per_capita_demand_kwh = annual_consumption_gwh × 1e6 / population

Wartime distortions (IDP flux, industrial shutdowns) are reflected as reduced confidence on the field, not silently smoothed.

4. Renewable potential

Solar

annual_solar_mwh = installed_kwp × solar_irradiance_kwh_m2_yr / 1000 × performance_ratio performance_ratio default = 0.80 (typical for Ukrainian installations)

Source: PVGIS-SARAH3, Global Solar Atlas, NASA POWER — cross-checked, lowest-confidence wins.

Wind

Mean wind speed at 100 m AGL from Global Wind Atlas. Capacity factor is looked up from a turbine class curve; not modelled from scratch.

Rooftop technical potential

rooftop_kwp_potential = suitable_roof_area_m2 × 0.15 # kWp per m² of usable roof

Suitable roof area derived from OpenStreetMap building footprints × oblast suitability factor.

5. Governance risk

A 0–10 composite from the governance and regulatory layers.

governance_risk = 0.40 · permit_complexity + 0.30 · (10 − council_capacity) + 0.30 · vendor_concentration permit_complexity : days-to-permit / 30, capped at 10 council_capacity : staffed pipeline-capable officials per 10k population, scaled vendor_concentration: Herfindahl on procurement awards, scaled 0–10

6. Corruption / trust indicators

Read directly from the crime layer:

  • corruption_index — 0–10 derived from Transparency International Ukraine + NABU case density.
  • institutional_trust_pct — from KIIS / Razumkov Centre tracking polls (oblast level).
  • procurement_transparency_pct — share of contracts published on Prozorro above threshold.

These are not combined into a single number on purpose — investors weight them differently.

Confidence scores

Every field carries a confidence in [0,1]:

RangeMeaning
≥ 0.80Official primary source, retrieved within 12 months, no known contradictions.
0.50–0.79Secondary source or modelled estimate; some triangulation.
< 0.50Single weak source, stale, or analyst inference. Do not use without verification.
Reminder — these formulas produce screening estimates. Bankable financials require full project finance modelling, EPC quotes, lender DD, and regulatory sign-off. ESMP outputs are a starting point, not a closing memo.

Risk Framework

Investing in Ukrainian energy assets means pricing risks that do not appear in standard EU/US deal templates. This framework names the twelve risks ESMP tracks, rates how material they are at MVP-city level, and lists the mitigation tools available to investors today.

Critical

1. War risk

Direct kinetic loss of assets from missile or drone strikes; collateral damage from frontline movement.
Mitigations: Ukraine State Compensation Mechanism (SCM) — asset compensation in frontline oblasts + premium subsidy; MIGA War & Civil Disturbance cover; ECA-backed political-risk insurance; siting away from strategic targets; physical hardening; modular replaceable design.
Critical

2. Grid attack risk

Loss of revenue when transmission/distribution is destroyed even if the asset survives.
Mitigations: islanding capability + storage; behind-the-meter PPAs; multi-substation interconnection; business-interruption insurance.
Material

3. Permitting risk

Wartime regulatory shortcuts and reversals; oblast vs central authority conflicts; environmental permits delayed.
Mitigations: early Energoatom / NEURC engagement; legal opinion on Article 17-1 wartime fast-track; conditional EPC contracts.
Material

4. Land & title risk

Unclear cadastral records; restitution claims; military easements; mine contamination on greenfield sites.
Mitigations: State Land Cadastre verification; HALO / FSD demining sign-off; municipal long-lease structures; brownfield prioritisation.
Critical

5. Corruption / procurement risk

Kickback exposure on EPC awards; politically connected vendors; sanctions list contamination.
Mitigations: Prozorro-only procurement; NABU/SAPO clearance; OFAC + EU sanctions screening; independent owner's engineer.
Material

6. Currency / payment risk

UAH depreciation; capital controls; offtaker (e.g., Guaranteed Buyer) payment delays under wartime cash-flow stress.
Mitigations: EUR/USD-denominated PPAs where allowed; partial guarantees from EBRD / IFC; escrow + waterfall; FX hedging.
Material

7. Insurance availability

Commercial insurance markets largely closed for war perils; coverage gaps for physical damage and BI.
Mitigations: Ukraine State Compensation Mechanism (SCM, since Jan 2026) — ECA premium subsidy toward ~1% + frontline asset compensation; MIGA Trust Fund for Ukraine; UK ECGD; DFC; layered self-insurance; sister-city co-investment risk-sharing.
Material

8. Political risk

Tariff revisions; retroactive feed-in changes; nationalisation tail risk; coalition shifts in donor countries.
Mitigations: Energy Charter Treaty arbitration clauses; PRI cover; phased capex; donor co-financing.
Material

9. Supply-chain risk

Logistics disruption; module/inverter import constraints; critical spares stuck at borders.
Mitigations: EU-sourced equipment with CBAM-safe origin; bonded warehousing in Lviv/Uzhhorod; spares pooling agreements.
Material

10. O&M / security risk

Difficulty deploying field crews; physical site security; staff mobilisation under martial law.
Mitigations: local O&M partners with reservation status workforce; remote monitoring; perimeter security spec in EPC.
Manageable

11. Cyber risk

SCADA / inverter firmware compromise; targeted intrusion of operational technology.
Mitigations: NIS2-aligned OT segmentation; CERT-UA threat feeds; vetted vendors; red-team testing pre-COD.
Manageable

12. Community acceptance risk

Local opposition to siting; competition for grid capacity; perceived "outsider profit" on aid-adjacent assets.
Mitigations: early hromada engagement; community shared-ownership tranche; transparent benefit-sharing; sister-city co-branding.

Risk → capital structure mapping

Risk profileBest-fit capitalExample city / use-case
Very high (frontline)Grant + concessional only; no commercial debtKharkiv hospital microgrid — Direct Aid (EOPA-1)
HighBlended: grant first-loss + DFI debtKyiv resilience microgrids — EOPA-3
MediumDFI debt + private equity, MIGA-wrappedLviv 10 MW solar+BESS — EOPA-3 / EOPA-4
LowCommercial PPA, IPP-style structureLviv / Pustomyty rooftop and small wind

State Compensation Mechanism (SCM) — new since Jan 2026

Ukraine's State Compensation Mechanism (SCM) has been operational since 1 January 2026, with UAH 1 billion allocated from the 2026 State Budget and operated by the Export Credit Agency (ECA). It directly de-risks war-exposed energy assets and reshapes the financing case — surfaced automatically by warrisk_score and miga_quote.

ComponentWhat it doesCap / scope
Component 1 — asset compensationPartial compensation for war-damaged business assets in the 10 frontline oblasts (Chernihiv, Dnipropetrovsk, Donetsk, Kharkiv, Kherson, Mykolaiv, Odesa, Poltava, Sumy, Zaporizhzhia).Capped UAH 30M per business. Of the MVP cities, only Kharkiv qualifies.
Component 2 — premium subsidyBrings the cost of war-risk insurance down toward 1% for businesses (nationwide).Capped UAH 3M per business.

The ECA is being seeded as a national war-risk reinsurer — endorsed by Ukraine's Insurance Taskforce (~30 participants including WTW, Marsh, Allianz, Aon, the World Bank and FCDO): the local market underwrites and cedes to the ECA, which is backstopped by donors/IFIs for high layers, with private international reinsurance participating where feasible. International comparables: Pool Re (UK), TRIA (US), the Caribbean catastrophe pool (CCRIF) and African Risk Capacity.

SCM is a financing mitigant, not a reduction to the physical hazard score: the war-risk score still reflects strikes, frontline proximity and grid damage, while SCM lowers the net cost of insuring and recovering the asset.

Project Pipeline (illustrative)

These are indicative pipeline candidates assembled from the MVP city twins, not committed projects. They show what kind of opportunities ESMP surfaces and how risk ↔ capital pairing works in practice. Real pipeline access requires data-room sign-off — request access.

ProjectCityType (EOPA)SizeCapEx (EUR) StatusRiskFunding fit
Hospital solar + storageKharkivDirect Aid (1)500 kW + 1 MWh~€1.4M conceptVery high (8.4)Grant first-loss
School shelter microgridKyivResilience (3)250 kW + 0.5 MWh~€0.7M data neededMedium (4.6)Blended (donor + DFI)
Municipal rooftop solar portfolioLvivIPP / PPA (3,5)3 MW (15 sites)~€3.0M pre-feasibilityLow (2.1)Commercial debt + equity
Solar + BESS hybridLvivDistributed Resilience (3)10 MW + 4 MWh~€11.9M feasibilityLow–MedDFI debt + MIGA wrap
Community solarPustomytyDirect Aid + Sister City (1,2)5 MW~€4.5M pre-feasibilityLow (1.8)Sister-city co-invest + grant
Onshore windLviv oblastIPP / PPA (3,4)20 MW~€26M conceptLow (2.1)Commercial + ECA
Water utility microgridKharkivResilience (3)1.5 MW + 3 MWh~€3.8M data neededVery high (8.4)Donor + MIGA
Disclaimer — figures above are illustrative scoping numbers derived from city-level data, not validated project budgets. Use the Agent tab or contact us for detailed screening on any line item.

Energy Security Technology Catalog

A scoped universe of clean-energy and energy-security technologies relevant to Ukraine's reconstruction — from commercial workhorses (solar PV, lithium BESS) to frontier plays like Quaise-style millimeter-wave deep geothermal and small modular reactors. Each entry is scored on two axes that matter for a war-exposed grid:

  • Energy Security (0–10) — resilience to missile/cyber attack, decentralization, dispatchability, fuel-supply independence.
  • Cost Effectiveness (0–10) — inverse of LCOE plus learning-curve trajectory and Ukraine-applicable financing depth.

Ranking below is ESMP's composite priority (0.55 × security + 0.45 × cost) for Ukraine 2025–2030. Figures are indicative ranges from public sources (IEA, IRENA, Lazard LCOE+, BloombergNEF, vendor disclosures); validate with the Sources tab before underwriting.

Filter by category

#1

Solar PV + Lithium BESS hybrid

TRL 9
DecentralizedDispatchableModular
Distributed rooftop and ground-mount PV paired with 2–4 h Li-ion storage. The workhorse of Ukraine's near-term resilience: small footprint per node, hard to take down at scale, fast deploy.
Energy Security
9.2
Cost Effective
8.8
LCOE €45–75/MWh
CapEx €0.9–1.4M/MW
Best-fit financingEBRD / EIB senior debt + USDFC partial-risk guarantee; commercial PPA equity from Octopus, NEoT, Sonnedix; MIGA war-risk wrap on equipment imports.
Revenue streamsCorporate PPA (€75–110/MWh), feed-in premium, capacity payments, ancillary frequency response from BESS, GO/REC certificates, behind-the-meter savings for hosts.
Ukraine fit: Critical. Already deployed in Lviv, Pustomyty pilots. Scales fastest of any tech.
#2

Iron-air / iron-flow LDES (Form Energy, ESS Inc.)

TRL 7–8
100h durationNon-flammableEarth-abundant
Multi-day storage using iron oxidation/reduction. Plugs the "dunkelflaute" gap that lithium can't economically serve. Form Energy's 100-hour battery is in commercial pilots with Xcel, Georgia Power.
Energy Security
9.0
Cost Effective
7.5
LCOS €20–40/MWh-cycle
CapEx €0.15–0.25M/MWh
Best-fit financingBlended: DOE-LPO / EBRD concessional debt + climate-tech VC equity (Breakthrough Energy, TPG Rise). Project finance still maturing; first-loss tranches advisable.
Revenue streamsCapacity market, multi-day arbitrage, transmission deferral, black-start service, resilience-as-a-service to critical loads (hospitals, water, telecom).
Ukraine fit: High. Solves winter resilience where 4h Li-ion fails. Pilot candidate 2026–28.
#3

Small Modular Reactors (SMRs)

TRL 7–8
BaseloadHardenedLow-carbon
50–300 MW factory-built reactors: GE Hitachi BWRX-300, Rolls-Royce SMR, NuScale, Holtec SMR-300. Ukraine has signed MoUs with Westinghouse (AP1000) and Holtec. Underground siting options for war hardening.
Energy Security
9.5
Cost Effective
5.8
LCOE €75–150/MWh
CapEx €4–8M/MW
Best-fit financingSovereign / supra-sovereign: US EXIM, K-EXIM, EDC Canada + Euratom loan. Contract-for-Difference price stabilization required. Equity from utilities (Energoatom JV).
Revenue streamsLong-term CfD baseload PPA (€90–120/MWh), district heating cogeneration revenue, hydrogen production at off-peak, capacity market.
Ukraine fit: Strategic. Replaces lost Zaporizhzhia capacity post-2030. Westinghouse AP300 LoI signed 2023.
#4

🏘Microgrids & Virtual Power Plants

TRL 9
Island-capableAggregatedSoftware-defined
Critical-load microgrids (hospital, water, comms) with grid-forming inverters + automated islanding. VPP layer aggregates distributed assets into dispatchable capacity (Tesla VPP, AutoGrid, Voltus).
Energy Security
9.4
Cost Effective
8.0
LCOE €60–110/MWh
CapEx €1.5–3M/MW
Best-fit financingUSAID Energy Security Project grants + EBRD debt + municipal bonds. Energy-as-a-service contracts let hospitals avoid capex.
Revenue streamsResilience-as-a-service subscription, VPP capacity auctions, demand-response, deferred outage costs (insurance-linked), critical-load surcharge.
Ukraine fit: Critical. Every oblast hospital, water utility, and telecom hub is a candidate.
#5

🌬Onshore wind (modern 5–7 MW turbines)

TRL 9
Domestic fuelMatureWestern-corridor
Vestas/Siemens-Gamesa class machines for west/south oblasts. DTEK already operates 1+ GW. Larger and more cost-effective than older fleet; pairs well with BESS for dispatch.
Energy Security
7.8
Cost Effective
8.9
LCOE €40–65/MWh
CapEx €1.2–1.6M/MW
Best-fit financingEBRD/EIB senior debt, IFC equity, USDFC partial guarantee, MIGA war-risk. Standard 70/30 project finance once war-risk overlay in place.
Revenue streamsCorporate PPA, green premium, Article 6 ITMOs to EU buyers, GO certificates, balancing services.
Ukraine fit: High in western corridor; restricted near front line. Lviv, Volyn, Rivne prime.
#6

🌍Deep geothermal — millimeter-wave drilling (Quaise)

TRL 4–5
24/7 baseloadUbiquitousFrontier
Quaise Energy uses gyrotron millimeter-wave beams to vaporize rock down to 10–20 km, accessing supercritical heat anywhere. First pilot 2026. Could retrofit retired coal plants into geothermal baseload.
Energy Security
9.7
Cost Effective
5.0
LCOE (target) €30–60/MWh
CapEx €3–6M/MW
Best-fit financingFrontier climate VC (Breakthrough Energy Ventures, Prelude, Collab Fund), ARPA-E grants, DOE LPO Title 17. Not project-financeable pre-2030.
Revenue streamsBaseload PPA, coal-plant repowering (uses existing turbines/grid), district heating, process heat sales to industry.
Ukraine fit: Strategic optionality. Retired coal sites (Burshtyn, Ladyzhyn) = ideal pilot. Watch 2027–30.
#7

🌏Enhanced & closed-loop geothermal (Fervo, Eavor)

TRL 7
DispatchableDrilling-based
Fervo Energy (EGS via horizontal drilling) and Eavor (closed-loop "Eavor-Loop") repurpose oil & gas drilling tech. Fervo Cape Station 400 MW under construction; Eavor commercial pilot in Germany.
Energy Security
8.5
Cost Effective
6.5
LCOE €60–100/MWh
CapEx €3–5M/MW
Best-fit financingLate-stage VC + DFI debt + tax-equity (PTC/ITC analog). Eavor uses oil-major partnerships (BP, Chevron).
Revenue streamsBaseload + dispatchable peaking PPA, district heating, capacity market.
Ukraine fit: Western Carpathian gradient zones; needs seismic survey. Mid-term play.
#8

🔥Thermal storage (Antora, Rondo, Brenmiller)

TRL 7–8
Industrial heatCheap materials
Stores renewable electricity as heat in graphite blocks (Antora) or brick (Rondo) at 1500°C. Delivers process heat to industry — replaces gas boilers. Antora has Microsoft, Google offtake.
Energy Security
8.0
Cost Effective
7.8
LCOH €25–50/MWh-th
CapEx €0.1–0.2M/MWh
Best-fit financingIndustrial offtaker balance sheet + green-loan structures; EBRD industrial-decarbonisation facility.
Revenue streamsHeat-as-a-service contracts, carbon-credit upside, avoided gas-import cost, ITMOs.
Ukraine fit: High for steel (ArcelorMittal Kryvyi Rih), cement, food processing. Gas-displacement play.
#9

Microreactors (Westinghouse eVinci, Oklo, X-energy)

TRL 6–7
1–20 MWTruckable10-yr fuel
Sub-20 MW reactors for military bases, mining, remote critical loads. Oklo Aurora (1.5 MW) NRC-licensed; eVinci factory-built 5 MW. Black-start, walk-away-safe designs.
Energy Security
9.0
Cost Effective
4.5
LCOE €120–200/MWh
CapEx €8–15M/MW
Best-fit financingUS DoD / DOE off-take + DFC equity. Commercial deployment needs sovereign guarantee.
Revenue streamsPower-as-a-service to critical infrastructure (NATO bases, data centers), heat cogeneration, ultra-resilience premium.
Ukraine fit: Niche — military, mining, isolated front-line garrisons. Post-2028.
#10

🪨Green hydrogen (PEM, alkaline, SOEC electrolysis)

TRL 8
StorableExport-ready
ITM Power, Nel, Plug Power PEM stacks; Topsoe SOEC for industrial heat. Ukraine has EU Hydrogen Backbone proximity + cheap renewables potential. Naftogaz green-H2 corridor MoU with Germany.
Energy Security
7.5
Cost Effective
5.5
LCOH €4–7/kg
CapEx €1–1.8M/MW-el
Best-fit financingEU Innovation Fund grant + EIB green loan + EU-side CfD (H2Global auction). German H2 import contracts under-write.
Revenue streamsEU H2 export PPA (H2Global €5–7/kg strike), ammonia derivative export, steel-decarbonisation offtake, oxygen byproduct sales.
Ukraine fit: Strategic export play 2028+. Requires pipeline retrofit and EU pricing stabilization.
#11

HVDC interconnectors & grid-forming inverters

TRL 9
ENTSO-E syncStability
Hitachi, Siemens Energy, GE Vernova HVDC links to Poland, Romania, Hungary. Grid-forming inverters (Tesla, Hitachi) provide synthetic inertia, replacing what fossil rotation gave the grid.
Energy Security
8.5
Cost Effective
7.0
CapEx €1–2M / MW-km
Life 40+ years
Best-fit financingEBRD/EIB sovereign-backed infrastructure debt; Ukraine–EU Connecting Europe Facility grants.
Revenue streamsTransmission tariff (regulated WACC), cross-border arbitrage rents, ancillary services revenue.
Ukraine fit: Critical. ENTSO-E synchronization March 2022 already done; expansion needed.
#12

Compressed-air & liquid-air storage (Hydrostor, Highview)

TRL 7
8–24 hCavern-based
Hydrostor A-CAES uses water-compensated salt caverns; Highview cryogenic liquid air. Long-duration alternative to batteries; uses mature compressor/turbine equipment.
Energy Security
7.8
Cost Effective
6.8
LCOS €40–80/MWh-cycle
CapEx €0.8–1.5M/MW
Best-fit financingInfrastructure-fund equity + DFI debt; Goldman, Meridiam already active in Hydrostor.
Revenue streamsCapacity market, ancillary services, long-duration arbitrage, transmission deferral.
Ukraine fit: Moderate — salt caverns in Donbas/west. Post-stabilization play.
#13

🌿Agrivoltaics & floating PV

TRL 8–9
Dual-useLand-efficient
Elevated PV over crops (Sun'Agri, Next2Sun) or floating on reservoirs (Ciel & Terre). Doubles land productivity; floating PV reduces evaporation. Ideal for war-damaged farmland recovery.
Energy Security
7.5
Cost Effective
7.2
LCOE €55–90/MWh
CapEx €1.1–1.7M/MW
Best-fit financingAg-development blended finance (IFAD, EBRD agribusiness); EU CAP co-funding; farmer co-op equity.
Revenue streamsPPA + crop revenue retention + EU CAP payments + carbon credits (soil health).
Ukraine fit: High — reconstruction synergy with agri-economy. Pilot 2026.
#14

🔮Perovskite-silicon tandem solar

TRL 6–7
>30% efficiencyFrontier
Oxford PV, Qcells, LONGi tandem cells exceeding 30% lab efficiency vs 22% for silicon. Commercial 2025–26. Less land per MW; ideal where rooftop/space-constrained.
Energy Security
7.0
Cost Effective
6.5
LCOE (target) €35–55/MWh
CapEx €0.7–1.1M/MW
Best-fit financingCommercial as production scales; near-term grant pilots (EU Innovation Fund).
Revenue streamsStandard PPA + premium for high efficiency where land is scarce.
Ukraine fit: Watch — deploy once Tier-1 supply available 2026+.
#15

🌿Agricultural biogas / biomethane

TRL 9
Gas-grid swapRural jobs
Anaerobic digesters on sunflower/corn waste, livestock manure; biomethane upgrading for gas-grid injection. Replaces imported gas; rural economic anchor. EU REPowerEU 35 bcm target.
Energy Security
7.8
Cost Effective
6.8
LCOE €65–120/MWh
CapEx €2–3.5M/MW
Best-fit financingEBRD agri credit + EU CAP grants + co-op equity; biomethane feed-in tariff.
Revenue streamsBiomethane sale to gas grid (TSO purchase obligation), GO certificates, organic fertilizer byproduct, REPowerEU premiums.
Ukraine fit: Very high — world's top sunflower producer, large livestock base. Distributed, hard to target.
#16

🏠Heat pumps & deep building retrofit

TRL 9
Demand-sideGas displacement
Air-source and ground-source heat pumps (Daikin, Viessmann, Mitsubishi) + insulation upgrades. Cheapest negawatt; cuts winter peak that war damages hit hardest.
Energy Security
8.2
Cost Effective
8.5
Payback 5–10 years
CapEx €8–20k/home
Best-fit financingOn-bill financing, KfW-style green mortgage, EBRD residential energy efficiency facility, USAID municipal grant.
Revenue streamsAvoided gas cost, demand-response participation, white-certificate trading, comfort premium on rentals.
Ukraine fit: Massive program need — 1M+ damaged buildings. Highest IRR per euro invested.
#17

🔥District heating modernization (4GDH/5GDH)

TRL 9
Sector couplingWaste-heat
Replace gas boilers with large heat pumps, waste-heat recovery (data centers, steel), thermal storage. Danfoss, Logstor, Vattenfall reference. Ukraine has 18,000 km of district pipes — an asset.
Energy Security
8.0
Cost Effective
7.5
CapEx €0.5–1.5M/MW-th
Life 30+ years
Best-fit financingMunicipal bonds + EBRD MEI facility + EU Modernisation Fund grants.
Revenue streamsRegulated heat tariff, gas-displacement value, CO2 cost avoidance, demand-response from thermal storage.
Ukraine fit: High — Kyiv, Kharkiv, Lviv DH operators are reconstruction priorities.
#18

Gravity & mechanical storage (Energy Vault)

TRL 7
8–12 hNo degradation
Energy Vault EVx blocks; pumped hydro micro-scale. Long lifecycle, low fire risk. Niche vs LDES batteries but viable on specific sites.
Energy Security
7.0
Cost Effective
5.8
LCOS €55–110/MWh-cycle
CapEx €0.4–0.7M/MWh
Best-fit financingVC + project equity; not yet bankable mainstream.
Revenue streamsArbitrage, capacity, ancillary services.
Ukraine fit: Watch — better LDES alternatives exist.
#19

🌊Offshore wind (fixed & floating)

TRL 8–9
Black SeaPost-war
Black Sea has 250+ GW theoretical resource. Floating (Equinor Hywind, Principle Power) for deep water. Fully blocked while Russia controls northern Black Sea; long-term play.
Energy Security
6.5
Cost Effective
6.0
LCOE €70–140/MWh
CapEx €2.5–5M/MW
Best-fit financingSovereign CfD auction; offshore wind project finance once war-risk insurable; equity from Orsted, Equinor, Iberdrola.
Revenue streamsCfD strike price, ITMOs, ancillary, optional H2 collocation.
Ukraine fit: Strategic 2030+. Requires Black Sea security.
#20

Commercial fusion (Commonwealth, Helion, TAE)

TRL 4–5
Pre-commercialFrontier
CFS SPARC (2026), Helion Polaris (2028), TAE Copernicus. No commercial generation expected before 2032. Track as optionality; do not underwrite.
Energy Security
9.5
Cost Effective
2.5
LCOE (target) unknown
CapEx €10M+/MW
Best-fit financingPure VC / sovereign R&D (US ARPA-E, UK STEP, EU Fusion-for-Energy). No project finance.
Revenue streamsNone pre-2032. Tech-licensing optionality.
Ukraine fit: Watch only. Post-2032 conversation.
#21

🧡Natural ("gold") hydrogen exploration

TRL 3–4
Geological H2Speculative
Naturally occurring H2 in continental crust (Mali discovery; US Midwest exploration). Could be <€1/kg if economic flow rates confirmed. Hyterra, Koloma, Mantle8 leading exploration.
Energy Security
8.0
Cost Effective
3.5
Cost (target) <€1/kg
Risk Exploration
Best-fit financingOil-major exploration budgets; sovereign mineral leases; VC.
Revenue streamsWellhead H2 sale at fertilizer / steel feedstock value.
Ukraine fit: Watch — Ukrainian Shield geology under-explored.
#22

💨Direct Air Capture (Climeworks, Carbon Engineering)

TRL 7
Carbon revenuePower-intensive
CO2 extraction from atmosphere. Climeworks Mammoth 36 ktCO2/yr. Currently €400–800/tCO2; target €100. Pairs naturally with cheap Ukrainian renewables.
Energy Security
3.5
Cost Effective
3.0
Cost €400–800/tCO2
Energy ~2 MWh/tCO2
Best-fit financingPre-purchase carbon-removal offtake (Frontier, Stripe, Microsoft); US 45Q tax credit analog.
Revenue streamsVoluntary carbon-removal credits (€200–500/t), Article 6.4 (emerging), industrial CO2 sale.
Ukraine fit: Optional — cheap renewables + depleted gas reservoirs = DAC+storage hub potential post-2030.
#23

🌀Airborne wind energy (Kitepower, SkySails)

TRL 5–6
MobileFrontier
Tethered kites / drones harvest high-altitude wind. 90% less material than towers. Kitepower 100kW commercial; not yet utility scale.
Energy Security
6.0
Cost Effective
4.0
LCOE (target) €50–80/MWh
Scale 100kW–1MW
Best-fit financingClimate VC; defense / disaster-relief demonstration grants.
Revenue streamsOff-grid premium power, mobile deployment to disaster zones.
Ukraine fit: Niche — reconstruction sites lacking grid. Watch.
#24

🏔Underground hydrogen / CAES storage in salt caverns

TRL 7
SeasonalTWh-scale
Salt-cavern H2 storage (Mitsubishi ACES Delta, Storengy). Only practical seasonal storage at TWh scale. Ukraine has Dnipro/Donbas salt formations.
Energy Security
8.5
Cost Effective
5.5
CapEx €0.5–1.5/kWh
Cycles Seasonal
Best-fit financingEU IPCEI hydrogen funding; sovereign-backed strategic-reserve mandate.
Revenue streamsStorage tariff (regulated), strategic reserve service, arbitrage.
Ukraine fit: Strategic post-2028 once H2 economy materializes.
TRL Technology Readiness Level (9 = commercial; 7–8 = early commercial; <7 = R&D) LCOE Levelized Cost of Energy LCOS Levelized Cost of Storage LCOH Levelized Cost of Heat / Hydrogen ITMO Internationally Transferred Mitigation Outcome (Article 6 Paris) GO/REC Guarantee of Origin / Renewable Energy Certificate CfD Contract for Difference VPP Virtual Power Plant

How financing maps to technology stage

A bankable Ukraine project stack typically layers four capital classes against the technology's TRL and risk profile:

LayerCapital typeSuits which techTypical %
1. First-lossGrants (USAID, EU Modernisation Fund, Innovation Fund)Frontier tech demonstrators, retrofits, microgrids for critical infra10–30%
2. ConcessionalDFI debt (EBRD, EIB, IFC, EDC, JBIC) below-marketCommercial renewables in war zone; LDES pilots; SMRs40–60%
3. Risk-mitigantUSDFC / MIGA partial-risk & war-risk guaranteesAll technologies operating in Ukrainewrap
4. CommercialSenior debt, equity (utilities, infra funds, strategics)Mature tech (PV, wind, BESS) after de-risking layers above30–50%

ESMP's role is to structure the stack, not provide capital — we match technology + city + sponsor + capital classes against deal-specific risk, then surface bankable opportunities to the right financiers.

Revenue-stream taxonomy

Bankability depends on stacking multiple revenue lines. Below are the streams ESMP tracks per project:

Primary

Energy PPA / CfD

Long-term offtake at fixed or floor-linked tariff. Corporate PPAs (Google, Microsoft, ArcelorMittal) preferred for credit quality.
Stacked

Ancillary services

Frequency response, voltage support, reserves, black-start. Fast-acting BESS captures 15–25% extra revenue.
Stacked

Capacity payments

Reliability payments for being available. Ukraine capacity market in development; EU ENTSO-E-aligned design.
Climate

Carbon & GO certificates

Article 6.2 ITMOs to EU buyers (Switzerland-Ghana model); GO certs €2–15/MWh; CORSIA aviation offsets.
Resilience

Resilience-as-a-service

Critical-load customers (hospitals, water, telecom) pay premium for guaranteed islanded power during attacks.
Cross-border

EU export & H2 corridor

Electricity export via ENTSO-E synchronization (since 2022); H2/ammonia via H2Global auctions.
Negawatt

Demand response & efficiency

VPP-aggregated load shedding; white certificates; avoided gas-import cost monetization.
Heat

Heat & process steam

District-heating tariff; industrial steam offtake (steel, fertilizer, food). Often higher-margin than power.
Disclaimer — all scores, cost ranges and TRL assignments above are ESMP's illustrative synthesis from public sources (IEA, IRENA, Lazard LCOE+, BloombergNEF, ARPA-E, EU Innovation Fund, vendor disclosures) as of 2025. Validate via the Sources & Provenance tab and the Agent before any underwriting or investment decision.

Sources & Provenance

Every numeric value in an ESMP city twin carries a provenance object: source_url, retrieved_at (ISO date), confidence (0–1), method (official / estimated / modeled / inferred), and an optional note. The Explore Layers tab shows this on every individual field. The catalogue below summarises the primary sources by data layer.

Primary sources by layer

LayerPrimary sourcesTypical methodTypical confidence
economyState Statistics Service of Ukraine (Ukrstat); oblast statistical yearbooks; Ministry of Economy bulletins; World Bank Ukraine country dataofficial + estimated (wartime gaps)0.55–0.80
demographicsUkrstat; UNHCR Ukraine Refugee Situation; IOM DTM (IDPs); Ministry of Social Policy registersofficial + modeled (IDP flux)0.55–0.85
socialMinistry of Health facilities registry; Ministry of Education school registry; oblast administration sitesofficial0.80–0.95
crimeTransparency International Ukraine CPI; NABU / SAPO case statistics; KIIS & Razumkov trust polls; Prozorro analyticsofficial + modeled0.55–0.80
energyUkrenergo regional load reports; NEURC tariff orders; SAEE renewable installations registry; DTEK disclosuresofficial0.75–0.90
investmentUkraineInvest; oblast IPA bulletins; IFC / EBRD project disclosures; FDI Marketsofficial + secondary0.55–0.80
militaryACLED conflict events; ISW / DeepState frontline maps; NASA FIRMS; Ukrainian official strike reports; NOAA VIIRS night-lightsmodeled composite0.50–0.75
governanceHromada / city council official sites; Ukrainian Government Portal; mayor / deputy contact pages; Diia.City registryofficial0.80–0.95
regulatoryNEURC; SAEE; Verkhovna Rada legislation; Article 17-1 wartime regime; Energy Community Secretariat reportsofficial0.80–0.95
infrastructureUkravtodor; Ukrzaliznytsia; State Agency for Infrastructure; OpenStreetMap; oblast plansofficial + OSM0.65–0.85
renewablesPVGIS-SARAH3; Global Solar Atlas; Global Wind Atlas; NASA POWER; SAEE installations registry; OpenStreetMap building footprintsmodeled (resource) + official (installed)0.75–0.95
emissionsState Environmental Inspectorate; GPC inventories where available; IEA CO2 grid factor for Ukraine; SBTi sectoral pathwaysmodeled0.60–0.80

Worked example — Kharkiv war-risk = 8.4 / 10

Componentstrike_intensityACLED Ukraine dataset; UA MoD daily situation reports0.85
Componentgrid_damage_indexUkrenergo + DTEK incident logs; NOAA VIIRS night-light delta0.70
Componentfrontline_proximityDeepState / ISW frontline geometry, distance < 30 km0.90
Componentair_defense_uncertaintyanalyst override, low transparency0.40
Composite8.4 / 10weighted sum, weights {0.35, 0.25, 0.30, 0.10}0.72

Read this as: high-confidence on strikes and frontline, medium on grid damage, low on air-defense effectiveness — overall confidence 0.72.

How to cite

When you reproduce ESMP data, please cite as:

Energy Security Marshall Plan (ESMP), Ukraine MVP twin dataset, <city> · <layer> · field=<name>, retrieved YYYY-MM-DD from energysecuritymarshallplan.org, underlying source: <source_url>.

Each underlying source retains its own licence; ESMP does not relicense third-party data.