Energoatom

What Energoatom does

Energoatom (NAEC Energoatom) is the state-owned operator of Ukraine's nuclear power generation fleet, established in 1996 and restructured into a 100% state-owned joint-stock company in December 2023. The company operates 15 reactor units (13 VVER-1000 and 2 VVER-440) across four nuclear power plants — Rivne, South-Ukrainian, Khmelnytskyi, and Zaporizhzhia — with combined installed capacity of 13,835 MW. Zaporizhzhia NPP, the largest in Europe at 6,000 MW, has been under Russian occupation since the 2022 invasion; the remaining three plants continue to operate. Supporting assets include the Tashlyk pumped-storage hydro plant, Oleksandriyska HPP, and a Centralized Spent Nuclear Fuel Storage facility in the Chernobyl exclusion zone.

The company generates revenue by selling electricity into the Ukrainian market through bilateral contracts, day-ahead, intraday, and balancing markets, and exports power to Moldova, Romania, Slovakia, and Hungary via the integrated ENTSO-E grid. It also fulfills Public Service Obligations (PSO) to ensure affordable household supply under tariffs regulated by NKREKP. In 2024, Energoatom produced 53.4 billion kWh and generated 306.3 billion UAH in revenue, supplying roughly 55% of Ukraine's electricity (rising to 70% in autumn-winter periods) and contributing an estimated 2% of national GDP. The customer base is essentially captive: the national grid operator Ukrenergo is the system-level offtaker, and Ukrainian households are the regulated end-consumer.

Energoatom is pursuing a multi-billion-dollar technology and capacity expansion built around Western vendor partnerships: deployment of nine Westinghouse AP1000 reactors (beginning with Units 5 and 6 at Khmelnytskyi), Holtec SMR-300 deployment of up to 3,000 MW, Urenco fuel supply, and a domestic nuclear fuel assembly plant in the Mykolaiv region targeting 50% domestic VVER fuel by 2027. By 2028, Ukraine is expected to be the first country operating all VVER reactors on Westinghouse fuel. The company is governed by a Supervisory Board chaired by former Canadian Nuclear Safety Commission President Rumina Velshi and employs approximately 30,000 people, making it the largest employer in Ukraine's nuclear sector.

Name

Energoatom

Legal name

Акціонерне товариство «Національна атомна енергогенеруюча компанія «Енергоатом» (Aktsionerne Tovarystvo «Natsionalna Atomna Energetygeneruiucha Kompaniia «Energoatom» - Joint-Stock Company "National Atomic Energy Generating Company "Energoatom")

Website

https://energoatom.com.ua

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Energoatom is Ukraine's state-owned nuclear power operator, running 15 reactors across four NPPs with 13,835 MW of installed capacity and supplying roughly 55-70% of the country's electricity to the national grid and regulated household consumers.

Ownership category

akta.pro rank

Product category

Nuclear Power Generation

NAICS

Nuclear Electric Power Generation (221113), Hydroelectric Power Generation (221111)

akta.pro primary industry

Component & System Upgrades / Modernization (I&C Digital, Turbine-Generator, Balance-of-Plant) (EUAKABAE)

akta.pro secondary industries

Utility-Scale Power Generation Asset Management (EUAEAMAA), Nuclear Plant Life Extension & Uprates (Long-Term Operations) (EUACADAI), Grid Interconnection & Power Evacuation Works (Switchyard, Transmission Tie-ins) (EUAKAAAL)

Keywords

• Nuclear power generation
• Electricity generation services
• Nuclear plant operations
• Spent nuclear fuel storage
• Hydroelectric power generation

Headquarters

HQ city

Kyiv

HQ country

Ukraine

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Supply Chain, Technology or R&D

Revenue model

1. Electricity Sales: Energoatom generates revenue primarily from selling electricity produced at its four nuclear power plants. Sales occur through multiple market mechanisms including bilateral contracts, day-ahead market, intraday market, and balancing market. The company also exports electricity to Moldova, Romania, Slovakia, and Hungary following integration with the European ENTSO-E grid.
2. PSO (Special Obligations) Services: Energoatom fulfills government-imposed special obligations to ensure electricity availability for household consumers. Services rendered under PSO framework are compensated through regulated tariffs. In 2024, the company paid 153.2 billion UAH for PSO services.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Energoatom operates Ukraine's nuclear power generation fleet of 15 reactor units across 4 nuclear power plants (Zaporizhzhia, Rivne, South-Ukrainian, Khmelnytskyi) with combined installed capacity of 13,835 MW, supplying baseload electricity to the national grid and exporting to EU neighbors. The company also runs ancillary hydroelectric pumped storage assets (Tashlyk HPP-1, Oleksandriyska HPP), centralized spent nuclear fuel storage, and provides nuclear plant engineering, construction, and maintenance services through specialized subsidiaries.

Product overview

Energoatom (National Nuclear Energy Generating Company) is Ukraine's state-owned nuclear power operator managing 15 nuclear reactors across 4 nuclear power plants (Rivne, Zaporizhzhia, Khmelnytskyi, and South Ukraine) with combined installed capacity of 13,835 MW. The company operates as a vertically integrated nuclear energy company offering nuclear electricity generation, electricity trading through its Energoatom-Trading subsidiary, and nuclear fuel services. Supporting infrastructure includes hydroelectric facilities (Tashlyk HPP-1 and Oleksandriyska HPP), centralized spent nuclear fuel storage, and 12 specialized subsidiaries providing maintenance, engineering, and construction services. Strategic development includes Westinghouse fuel supply and AP1000 reactor deployment, Holtec SMR-300 partnerships, and domestic nuclear fuel assembly production.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 55-70% of Ukraine's electricity supply
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core and major.

• Westinghouse Electric CompanycoreTechnology or Integration · 30 June 2026Long-term strategic partnership for nuclear fuel supply, reactor deployment, and domestic manufacturing. Westinghouse has accelerated VVER-440 fuel program following Russia's 2022 invasion, delivering first fuel to Rivne NPP in 2023. Ukraine expected to become first country by 2028 to operate all VVER reactors exclusively on Westinghouse fuel. Partnership includes deployment of nine AP1000 reactors starting with Units 5 and 6 at Khmelnytskyi NPP.
• UrencomajorTechnology or Integration · 25 June 2026UK government £210 million deal for Urenco to supply nuclear fuel to Energoatom. Part of UK £290 million support package for Ukraine Recovery Conference in Gdansk, Poland.
• EU Small Modular Reactor AlliancemajorStrategic or Co-development Partner · 1 April 2024Energoatom joined the EU SMR Alliance in April 2024. Alliance serves as a platform for cooperation between SMR project initiators, financial institutions, operators, regulators, researchers, and civil society organizations.
• Holtec InternationalcoreStrategic or Co-development Partner · 21 April 2023Partnership for small modular reactor (SMR-300) deployment in Ukraine totaling up to 3,000 MW capacity, primarily for replacing damaged coal-fired power plants. April 2024 General Agreement signed for manufacturing facilities in Ukraine for SMR equipment and spent fuel storage containers.
• IAEA (International Atomic Energy Agency)coreStrategic or Co-development PartnerOngoing cooperation with IAEA since Russia's 2022 invasion, including permanent monitoring missions at all operating NPPs and Zaporizka NPP following occupation. IAEA missions aim to reduce nuclear accident risks during wartime aggression.
• WANO (World Association of Nuclear Operators)coreStrategic or Co-development PartnerMembership transferred from Moscow Center to Paris Center in April 2022 following Russia's invasion. Active participation in VVER working group with experts from Hungary, Finland, Slovakia, and Czech Republic.

Scale indicators8 records

Recent moves7 records

Expansion highlights7 records

Broad incumbents

• China National Nuclear Corporation (CNNC): Chinese state-owned nuclear developer and operator with a large and rapidly growing fleet. Comparable as a state-owned integrated nuclear company pursuing domestic AP1000/Hualong builds alongside fuel-cycle services.
• Rosatom: Russian state-owned nuclear corporation and incumbent VVER supplier to most Eastern European operators including Ukraine. Highly comparable as a state-owned integrated nuclear company with fuel, services, and new-build offerings, despite geopolitical separation.

Direct peers

• Vattenfall: Swedish state-owned utility operating the Forsmark and Ringhals nuclear fleets alongside hydro and district heating. Comparable as a state-owned integrated power company with substantial nuclear baseload.
• Ontario Power Generation (OPG): Canadian provincially-owned nuclear operator running the Darlington and Pickering nuclear stations and pursuing new-build SMR projects (GE-Hitachi BWRX-300). Comparable as a publicly-owned nuclear utility with active fleet expansion into SMRs.
• Bruce Power: Canadian nuclear operator running the Bruce Nuclear Generating Station (largest in North America) under a long-term partnership structure. Comparable as a large-scale nuclear operator executing life-extension and refurbishment programs.
• ČEZ Group: Czech state-influenced utility operating the Dukovany and Temelín nuclear power plants (VVER reactors), serving the same Central European electricity system. Directly comparable on VVER technology, state ownership, and ENTSO-E-integrated grid operations.
• Korea Hydro & Nuclear Power (KHNP): State-owned South Korean nuclear operator with one of the world's largest nuclear fleets and active export ambitions. Comparable as a state-majority nuclear utility pursuing fleet expansion (incl. APR1400 exports) and operating under IAEA oversight.
• Électricité de France (EDF): State-owned French nuclear power operator with the largest fleet in Europe. Directly comparable as a state-majority nuclear utility delivering baseload electricity under regulated frameworks and pursuing fleet-life extension plus EPR new builds.
• Slovenské elektrárne: Slovak electricity generator operating the Bohunice and Mochovce VVER nuclear plants, with state and Italian utility (Enel/Slovak stakeholder) ownership mix. Closely comparable regional VVER operator and a likely cross-border trading partner given Energoatom's exports to Slovakia via ENTSO-E.

Emerging players

• PGE Polska Grupa Energetyczna: Polish state-controlled utility leading Poland's first large-scale nuclear program, with SMR and large-reactor ambitions. Comparable as a state-influenced utility planning nuclear new builds in the same Central European region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights8 records

Customer concentration

• Xx.com/energoatom_ua
• YouTubeyoutube.com/channel/energoatomcompany
• Facebookfacebook.com/energoatom.ua
• LinkedInlinkedin.com/company/energoatom-ua
• Instagraminstagram.com/energoatom.ua

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Energoatom