Ukraine’s Security Service, together with police and prosecutors, said it had uncovered a scheme to embezzle 50 million hryvnias—nearly one million euros—from funds allocated to restore the Trypilska thermal power plant, which was damaged by Russian strikes. The information was published on the SBU’s website.
Investigators believe the scheme was orchestrated by executives of two contracting firms responsible for construction and installation work at the site. Between 2023 and 2025, the companies received state contracts for the restoration of the Trypilska plant totaling more than 500 million hryvnias.
According to the SBU, the contractors systematically inflated the cost of work, construction materials, and technical equipment, with the resulting difference distributed among participants in the scheme. Procurement was carried out through controlled entities that set prices roughly 30% above market levels. As a result, investigators estimate that over two years about 50 million hryvnias were siphoned off to the accounts of affiliated companies and cashed out.
Six people have been named as suspects in the case, including three alleged organizers. They are accused of misappropriation of property through abuse of office and of laundering funds obtained through criminal activity.
The Trypilska thermal power plant is the largest in Kyiv region and supplies roughly half of all electricity generated by the region’s enterprises. The facility was completely destroyed in a Russian strike on the night of April 11, 2024. The restoration of electricity generation was completed in July of the same year.