Project examples

Get a closer look at projects financed by the Finland Ukraine Trust Fund

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Promoting cooperation between the two countries for a green energy transition

The Finland Ukraine Trust Fund (FUTF) has provided grant financing to promote the cooperation in the fields of energy efficiency, renewable energy and alternative types of energy sources in power and heat generation and in district heating networks.

The purpose of the programme has been to promote cooperation between Finland and Ukraine and identify opportunities for projects, both consultancy services and investments, in the fields of energy efficiency, renewable energy and waste-to-energy and smart energy systems.


The FUTF programme is financed by the Ministry for Foreign Affairs of Finland and managed by Nefco. The local coordinator is the State Agency on Energy Efficiency and Energy Saving of Ukraine (SAEE).

FMA logo for Development cooperation

The focus is on following fields:

  • Renewable energy and waste-to-energy
  • Power and heat generation
  • District heating networks
  • Energy efficiency in buildings and industry
  • IT solutions and distribution networks
  • Development of partnerships in the context of multilateral development programs and projects of International Finance Institutions

Available funding

Grant funding has been provided to both public and private demonstration projects implemented by Ukrainian enterprises, preferably by small and medium-sized enterprises, or for technical assistance.

Project owner’s own contribution is required, however technical assistance, such as e.g. consulting and software, can be supported with a grant up to 100% of the cost.

Contribution to the Sustainable Development Goals

The Finland Ukraine Trust Fund supports improvements in infrastructure and living standards, and ensures environmental sustainability and energy security, so all consumers, including vulnerable groups, could have access to affordable, reliable and modern energy services. Projects financed by the programme also contribute to the following UN Sustainable Development Goals:

Demonstration projects

Grant support may be extended to demonstration projects, if the projects are transformative, innovative and introducing new technologies at the local market; and the partner commits itself to the project with either monetary or in kind contribution. In addition demonstration projects shall:

  • benefit not only locally but nationally
  • be innovative and replicable
  • build on well-known and proven technology
  • increase energy efficiency on system, sub-system or component levels
  • be environmentally sustainable
  • be cost efficient and financially sustainable after grant support
  • be examples of best practices and best available technologies (BAT)

Technical assistance

Funding for Technical Assistance (TA), also free standing, can be provided to different kind of projects including software services, legislation support and creation of funding instruments, knowhow, renewables, waste incineration etc. Funding can also be granted for expert services to support SAEE. Specifically, projects eligible for funding of TA and consultancy projects have to:

  • benefit not only locally but nationally,
  • be transformative, demonstrative and innovative,
  • increase investor confidence in energy sector, and
  • support ratification of clean energy policies.


Each project must have a Finnish interest in the form of consulting, supplies or investment. The level of the Finnish content is at least 30% of the total value of the project. The consultants selected shall be mainly firms registered in Finland. Procurement related to the activities to be funded shall be carried out in accordance with Nefco Procurement Guidelines of 12 December 2013.

Latest Call for Proposals

The programme has been been open for applications for Finnish companies, the latest Call for Proposals ended in May 2021. The following  projects were selected:

  1. Imatran Lämpö – twinning between two heating companies, Vinnytsiamiskteploenergo and Imatran Lämpö with Digitalisation Demo
  2. Deep Scan Tech – measuring the biogas sources in the Melitopol (Ukraine) landfill to map the full biogas production potential
  3. AFRY – feasibility study for a Waste to Energy plant in Poltava city
  4. Indufor – Feasibility study with market research to develop a biochar business model in Ukraine
  5. VTT Technical Research Center of Finland – Development of technical recommendations for Nearly Zero Energy Building (NZEB) in Ukraine
  6. Condens Heat Recovery – Delivery of flue gas condenser for a 5 MW biomass boiler to Lutskteplo for heat recovery

Due to Russia’s war in Ukraine which started on 24 February 2022, some of the projects may not be able to proceed as planned.

More information

For information about the Finland Ukraine Trust Fund, please contact the Coordination and Management Consultant:

Project Director, Jarkko Olkinuora (Finland):, Tel. +358 40 0805056
Team Leader, Andrew Levkonyuk (Ukraine):, Tel. +380 97 6405390