EUEA members participated in “EU-Ukraine Energy Finance & Investment Summit 2011” held in Vienna on November 17. Among the EUEA members at the Summit were: DTEK, Arzinger law firm, GE Energy and Encom Group.

01 GE Energy presentation1Among the main topics of the meetings were: energy as the main pillar and the most prospective field for investments in EU-Ukraine relations, investing into Ukraine’s energy efficiency and renewables, investment needs and opportunities in power generation in Ukraine, investing into transportation, distribution, and consumption in the Ukrainian energy sector.

Thus, director of EUEA Olena Rybak described the communal sector and compared the catastrophic situation of infrastructure with Chornobyl disaster. “If we are to compare the statistics on the number of victims of the Chernobyl disaster, when 31 people died during the first week and 60-80 deaths occurred within next 15 years, 60 thousand people were left without heat for 2-4 weeks and about 206 people died (because of low temperature -35 C) after Alchevsk disaster”- Olena Rybak said.
She noted that Ukraine has already set ambitious aims in terms of EE Program by 2015.

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By the end of 2010 the Laws on concession and lease of municipal enterprises, Law on Public Private Partnership, Law on condominiums were adopted. “All necessary intstruments have been created for investment projects implementation in order to modernize the infrastructure.Nowadays, there are about 14 thousand condominiums in Ukraine and  this figure is planned to be increased up to 80% in housing fund by 2015. It is the end of 2011 already, however prominent examples in heating systems and in EE in buildings are still not visible. Plans tend to look rather like painful attempts ” – Olena Rybak stated.

In conclusion she added: “In order to attract foreign investment, especially from energy service companies, we just need to comply with the declared objectives: to ensure the functioning of the law, to fulfill the obligations under the Energy Community Agreement, thereby demonstrating that we are ready for transparent energy market and to really implement reforms rather than declaring them on paper”.