Last week, the annual energy forum organized by Forbes Ukraine took place. During the panel discussion titled “Energy Independence: How Large Companies Turned the Energy Crisis into Business Opportunities”, moderated by Anastasiia Vereshchynska, director of the EUEA, participants Natalia Pokinska, CEO of Kronospan UA, Volodymyr Popershniuk, co-founder of Nova, and Maksym Sheremet, Chief Operating Officer of the Epicenter network, discussed ways for Ukrainian businesses to achieve energy independence.
In light of Ukraine’s loss of a significant portion of its generating capacity, businesses have begun seeking alternative power supply solutions to continue operations. Currently, the main options include importing electricity from European countries and building their own generating capacities, such as solar stations and gas installations.
The EUEA is working on a proposal to ensure an uninterrupted electricity supply to businesses by establishing direct contracts with electricity producers at new generating facilities. This approach will allow consumers to stimulate the emergence of new generation capabilities that will be developed by investors.
As part of the event, a panel discussion titled “Investment Opportunities in Ukraine’s Energy Sector Amid War” was held, moderated by Alina Sviderska, Deputy Chair of the EUEA Council and General Director of Scatec in Ukraine. Among the speakers were Adam Sikorski, President of the Management Board of UNIMOT S.A., Richard Deitz, founder of VR Capital Group, the parent company of Elementum Energy, and Volodymyr Kudrytskyi, former head of Ukrenergo.
Volodymyr Kudrytskyi emphasized that Ukraine needs about $11 billion in investment for new generation sources: solar, wind, and balancing capacities such as energy storage systems and gas generation.
However, the speakers unanimously agreed that attracting such investments requires the formation of a genuine partnership between the state and the private sector, where the state ensures predictability in the rules of the game and the establishment of market mechanisms, allowing investors to attract the necessary funds and build capacities.
Overall, the event highlighted that achieving energy independence for Ukraine is a complex task that requires synergy among technical, financial, and regulatory solutions. Despite the challenging circumstances, the Ukrainian energy sector has great potential for development, and attracting investments in this area will be key to its modernization and long-term stabilization.
