Director of EUEA, Elena Rybak attended 5th Renewable Energy Finance Forum – Central & Eastern Europe held in Warsaw on March 1-2, 2011. EUEA supported the event as information partner, as the subject of financing renewable energy projects is of specific importance for the Agency.

Over 100 participants of the Forum spent two days evaluating the opportunities in Eastern European region, as well as discussed specific c sector barriers and challenges for developers. Surprisingly, even though most of the speakers and companies represented, know about potential of the Ukrainian renewable energy market, Ukraine was not in the programme as a separate focus.

Mr. Paolo Bozzolo, Head of Project and Commodity Finance, Austria and CEE from UniCredit Group mentioned in his presentation that investors, when developing a project in a specific country are looking for stable legal framework, strong sponsors and confirmed technology among others, to go into the project.

Later in the discussion Elena asked the Equity panelists why do investors, though seeing much opportunity in the market like Ukrain,e do not take more active role in supporting the market development. Mr. Shane Woodroffe, Partner in EnerCap Capital Partners, despite understanding that every projects needs to be “worked out” with local counterparts, said that in Ukrainian case, there is simply no time to waste with the hope that things will change. Investors are looking for the portfolios with diversified regional risks, and it is a competition where Ukraine needs to act if it wants to win. Whereas Mr. Paul Battelle, Director, Renewable Energy, Asset Finance and Leasing from Deutsche Bank added that despite attractive feed-in tariff, Ukraine still has a lot of improvements to make for the better investment climate.