European-Ukrainian Energy Agency
Kyiv, 20 January 2020
“Renewable Energy Sector Stabilization in Ukraine”
1. Role of investments in RES for the energy sector development of Ukraine. 1
2. General description of the problem in the renewable energy sector. 2
3. Detailed assessment of current situation in renewable energy sector. 2
4. Position to solve problems in the field of renewable energy sector. 3
5. Conclusions. 5
1. Role of investments in RES for the energy sector development of Ukraine
The European-Ukrainian Energy Agency (EUEA), which was established in 2009, unites investors from Austria, Belgium, Great Britain, Norway, Spain, Switzerland, Turkey, Ukraine, the USA and other countries that implement renewable energy projects in Ukraine (around 2 GW of operational renewable power plants, 0.5 GW power plants under construction, and almost the same of fully permitted projects with signed pre-PPAs).
Foreign investors have committed investment into Ukraine’s renewable energy sector for many years based on a fair and stable regulatory framework. The law of Ukraine explicitly guarantees the “green”/feed-in tariff (FIT) and on that basis the members of our association invested more than EUR 3.0 billion in the Ukrainian renewable energy sector, and have also made commitments to further investments exceeding EUR 2.0 billion over the next 3 years. This could be an important success story for the Government of Ukraine in its attempts to attract foreign direct investments.
Importantly, EUEA members have also attracted the world’s leading international financial institutions and banks to provide financing for these projects, including the European Bank for Reconstruction and Development, US Overseas Private Investment Corporation, France’s Proparco, Black Sea Trade and Development Bank, Denmark’s IFU, Finland’s Finnfund, Sweden’s Swedfund, the Netherlands’ FMO, Nordic Environment Finance Corporation, GIEK and others. All of these institutions that have supported Ukraine’s economy have done so in reliance on a stable legal system with good track record. Read more (to download the Position Paper)