Home News Joint Stock Company “National Nuclear Energy Generating Company “Energoatom”: the leader of Ukraine’s energy market
17 July 2026

Joint Stock Company “National Nuclear Energy Generating Company “Energoatom”: the leader of Ukraine’s energy market

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Joint Stock Company “National Nuclear Energy Generating Company “Energoatom”: the leader of Ukraine’s energy market

Energoatom is the operator of Ukraine’s four nuclear power plants: Rivne NPP (RNPP, Varash), Khmelnytskyi NPP (KhNPP, Netishyn), Zaporizhzhia NPP (ZNPP, Energodar), and South Ukraine NPP (SUNPP, Pivdennoukrainsk). The company’s fleet comprises 15 nuclear power units: 13 VVER-1000 units and two VVER-440 units.

JSC “NNEGC “Energoatom” is a joint stock company, with 100% of its shares owned by the State of Ukraine, represented by the Cabinet of Ministers. Pavlo Kovtoniuk serves as Acting Chief Executive Officer. The Supervisory Board, composed of four independent members and three state representatives, is chaired by Rumina Velshi.

Situation at the Zaporizhzhia NPP Amid Temporary Occupation

Since March 2022, the Zaporizhzhia NPP has been occupied by russian military forces. The seizure of the ZNPP – the largest nuclear power plant in both Ukraine and Europe – is a deliberate crime committed by the occupying forces. russia has turned the plant into a military base, storing explosives and heavy weapons near the turbine halls of its power units. The site is also being used to launch attacks against Ukrainian territory. Blackouts at ZNPP are becoming increasingly frequent, with russia repeatedly posing a threat to nuclear and radiation safety across the entire European continent. Furthermore, operating the plant on emergency diesel generators significantly accelerates the equipment degradation.

The Role of Nuclear Generation for Ukraine's Power System

Despite the temporary occupation of ZNPP, nuclear generation remains the backbone of Ukraine’s power system. Energoatom provides more than half of the country’s electricity demand and over 70% of electricity generation during the autumn and winter period. The maintenance campaign, which involves carrying out all necessary technical work during the warmer months, ensures that electricity generation remains at its maximum during the country’s most challenging period of peak winter demand.

In operating Ukraine’s nuclear power plants, the entire Energoatom team adheres to key principles, including nuclear and radiation safety and a strong nuclear safety culture, in support of Ukraine’s energy independence. Radiation monitoring is conducted in real time. Energoatom maintains continuous cooperation with the International Atomic Energy Agency (IAEA), the leading international organization within the United Nations system that promotes the safe, secure, and peaceful use of nuclear technologies.

Partnership with International Organizations World Association of Nuclear Operators(WANO)

In addition, Energoatom works closely with the World Association of Nuclear Operators (WANO) to further enhance the safety and reliability of nuclear power plants worldwide.

Investment Projects and Development of the Nuclear Industry

Energoatom’s investment projects are crucial to the development and future of Ukraine’s nuclear industry. Backed by a strong industrial base and a highly skilled technical workforce, the country is moving forward with the construction of new nuclear power units, exploring Small Modular Reactor (SMR) technology, and planning the completion of additional units at the Khmelnytskyi NPP.

CSFSF: Independence from russia and Partnership with Holtec

A project that eliminated Ukraine’s historic dependence on russia has already been implemented and commissioned. Built in partnership with Holtec, the Centralized Spent Fuel Storage Facility (CSFSF) received its operating license in April 2022. In May 2026, the company also obtained a license for the “operation of a nuclear installation” stage of the Centralized Spent Nuclear Fuel Storage Facility (CSNFSF) lifecycle – valid for 100 years. This strategic milestone has delivered several important benefits to Ukraine: Energoatom now saves approximately USD 200 million annually that was previously paid to russia for spent nuclear fuel services. The company independently manages logistics and schedules deliveries of spent nuclear fuel to the Centralized Spent Fuel Storage Facility (CSFSF), demonstrating that it is possible to phase out cooperation with russia without compromising operational efficiency.

In addition, in cooperation with Holtec International, Energoatom will manufacture spent nuclear fuel storage containers. Energoatom and Holtec have also reached agreements on the construction of a manufacturing facility for components of Small Modular Reactors (SMRs).

Diversification of Nuclear Fuel and Partnership with Westinghouse

Equally important is Energoatom’s partnership with Westinghouse. In cooperation with Ukrainian specialists, the company achieved a landmark breakthrough in nuclear fuel diversification. Today, all Ukrainian nuclear power units operate on Westinghouse nuclear fuel, ending russia’s long-standing monopoly on nuclear fuel supplies. Rivne NPP holds a special place in this achievement, as it became the first nuclear power plant in the world to operate a VVER-440 reactor using Westinghouse fuel. This success has encouraged other European countries operating VVER-440 reactors to accelerate their transition to Western-designed nuclear fuel. By 2028, Ukraine is expected to become the first country in the world to operate its entire fleet of VVER reactors exclusively on Westinghouse fuel. Work is also underway to establish a fuel assembly manufacturing line in Ukraine.

Backed by a highly skilled nuclear workforce and a robust industrial base, Ukraine is increasingly recognized as a strategic partner in nuclear technology and manufacturing, rather than just a customer. With decades of experience operating Westinghouse fuel in VVER-1000 and VVER-440 reactors, coupled with its capability to manufacture nuclear-grade components, our country is well positioned to play a leading role in the revival of nuclear energy in Europe. At the same time, Westinghouse and Energoatom are jointly implementing a project to build nine AP1000 reactors in Ukraine, beginning with Units 5 and 6 of the Khmelnytskyi NPP.

One of the first projects under this cooperation will be Unit 5 of the Khmelnytskyi NPP, for which Westinghouse has already completed the required feasibility study.

Partnership with EDF, Cameco, and Urenco

Energoatom also continues to strengthen partnerships with other leading companies in the global nuclear industry, including EDF, Cameco, and Orano.

JSC “NNEGC “Energoatom” and EDF have signed a Memorandum of Cooperation in the field of nuclear energy. The document lays the groundwork for potential cooperation on the deployment of new nuclear generating capacity in Ukraine, while also supporting the safe, reliable, and efficient operation of the country’s existing nuclear fleet. Under the memorandum, EDF may engage its subsidiaries, including Framatome and Arabelle Solutions.

JSC “NNEGC “Energoatom” has concluded a number of long-term contracts for the supply of nuclear materials, including enriched and natural uranium hexafluoride. In particular, under agreements extending until 2035, Canadian Cameco will supply uranium that will be enriched by the British Urenco.

Social Responsibility and Financial Stability

Energoatom is a socially responsible company and therefore implements a number of important public-interest initiatives. In particular, the company continues to bear the primary financial responsibility for Ukraine’s Public Service Obligations (PSO) mechanism. Owing to Energoatom’s contributions, the state is able to maintain electricity tariffs for millions of Ukrainian households below market levels. From 2022 to 2025, Energoatom allocated more than UAH 528 billion under the Public Service Obligation (PSO) mechanism. In the first six months of 2026 alone, its PSO contributions reached a further UAH 131.1 billion.

JSC “NNEGC Energoatom” consistently fulfills its financial obligations to the state and society. As one of Ukraine’s largest taxpayers, the company ensures the full and timely payment of taxes, supporting not only the country’s energy security but also its financial resilience during wartime. In 2025 alone, Energoatom remitted more than UAH 44.6 billion in taxes to budgets at all levels.

Support for the Defense Forces of Ukraine

Energoatom has provided more than UAH 21.6 billion in support to Ukraine’s Defense Forces. Since the beginning of russia’s full-scale invasion of Ukraine, the company has allocated substantial funding to strengthen the country’s defense capabilities. These funds have been used, among other things, for:

  • support of National Guard units responsible for protecting Ukraine’s nuclear power plants – UAH 15.5 billion;
  • procurement of quadcopters, unmanned aerial vehicles (UAVs), strike drones, electronic warfare systems, generators, and other essential military equipment – UAH 5.7 billion;
  • transfer to the National Bank of Ukraine’s special fundraising account – UAH 345 million.

Today, around 1,000 Energoatom employees are serving in Ukraine’s Defense Forces. The company continues to provide them with financial support.

This assistance is also delivered through the Public Organization “Guards of Light”n, established in October 2023 at the initiative of Energoatom employees to respond quickly to the needs of military personnel and provide systematic support. The organization has steadily expanded and now operates regional branches in Pivdennoukrainsk, Varash, Slavutych, and Netishyn. Its volunteers regularly deliver aid to military units based on their operational needs.[_]

In addition, together with its partner organizations – Association “Ukrainian Nuclear Forum” (UNF) and PO “Ukrainian Nuclear Society” (UkrNS) – Energoatom is committed to developing the next generation of professionals for Ukraine’s nuclear industry. Through initiatives such as school science Olympiads, career guidance programs, and the active involvement of Energoatom specialists in university admission campaigns, the company is investing in the future of nuclear energy. These efforts are aimed at attracting talented young professionals to build their careers at Energoatom.

 

Energoatom: Clean Energy of the Future!