How companies can receive a Power Up grant of up to UAH 1 million for energy independence

When running a business, entrepreneurs usually face a lot of problems that need to be solved, but the key one is always financial issues. Mostly, for their solution, the person focuses on the credit resource.

Such opportunities are always open for business because financial institutions are willing to provide loans for entrepreneurs. However, is this the only way to solve such difficulties in practice?

Of course not, because various grant programs are actively gaining popularity in Ukraine, which provide the opportunity to attract additional funds for entrepreneurs. This shows the relevance of the chosen topic.

Therefore, in this article, we will talk about how companies can receive a Power Up grant of up to UAH 1 million for energy independence.

What is the purpose of the Power Up grant?

The main goal is to increase the efficiency of Ukrainian entrepreneurs affected in the Chernihiv, Sumy, and Kharkiv regions and to promote the energy-efficient revival of the Ukrainian economy through the purchase of equipment for organizations at 2 levels: both the state and business levels.

Who can get it?

To receive a grant, you must meet certain criteria, namely:

• the organization must be registered as a legal entity and have one of the organizational and legal forms - LLC, JSC, TDV, PT, or be a utility enterprise;
• location of the legal entity - Chernihiv, Sumy, and Kharkiv regions;
• the organization was directly affected by the war in Ukraine (partial destruction or damage to the company's property) or indirectly (the volume of production significantly decreased compared to the pre-war period). At the same time, it is necessary to have documentary confirmation of these facts;
• the owner of the legal entity is a citizen of Ukraine;
• not to conduct its activities in the temporarily occupied territory, the territory of the Russian Federation and the Republic of Belarus, as well as other countries included in the sanctions list;
• no economic sanctions should be applied to the legal entity;
• the legal entity must not be at the stage of liquidation and bankruptcy proceedings have not been initiated against it;
• employees of the legal entity were not held criminally liable for committing corruption offenses.

What are the criteria for evaluating applications?

The program identifies 2 types of criteria when evaluating submitted applications:

• Exceptional - only enterprises from the Sumy, Kharkiv, and Chernihiv regions that have been directly and indirectly affected by the war on their activities can apply for a grant ;
• Basic :
• the submitted application must meet the terms and objectives of the grant;
• annual energy savings must be at least 300 MW;
• attraction of own capital for energy conservation;
• the organization plays a positive social role in its community.

The number of winners is 10 legal entities. The size of the grant is up to UAH 1 million. The application deadline is September 20, 2023 inclusive.

If you want to become the winner of the grant you have chosen, contact the lawyers from the Prikhodko and Partners law firm.

Our team will advise you on available current grants and provide assistance in the preparation of documentation at all stages of obtaining a grant. So don't delay and apply!