On August 6, 2020, a conference was held on the topic: “Alternative Energy in Ukraine: Opportunities for Investors and Producers” with the participation of EUEA Director Oleksandra Gumeniuk.

The purpose of the meeting is to draw attention to the field of renewable energy in Ukraine. The participants of the event discussed the problems of renewable energy and its prospects for development; analyzed the investment climate of Ukraine and the compliance with investment obligations by our state.

According to Oleksandra Gumeniuk: “Simply inviting investors to develop RES is not enough, it is important to ensure stable financial payments to investors and the technical capacity of the Ukrainian energy system to receive and supply electricity produced from renewable sources. Ukraine has chosen the EU course and the green energy course – this should be like an axiom that doesn’t need to be proved.

Nowadays Ukraine needs to establish and build balancing capacities. According to the report of the National System Operator, our state needs about 4 GW of balancing capacity, of which 2 GW – should be covered by energy storage systems, 2 GW – fast-maneuvering capacity, which is very important for Ukraine.

We also need to improve the legal framework for investors to better understand our economic system and the economic model for banks. To increase the flexibility of the energy system, it is necessary to continue the work of integration of the energy system of Ukraine into the energy system of Europe” said Oleksandra Gumeniuk.

“An important point is to provide compensation for outages, because we understand that electricity generated from renewable sources isn’t stable, it needs to be balanced to maneuver.

The legislation provides for full compensation for outages, but currently there is no mechanism and source of such compensation. Therefore, it is so important to provide regulation and a transparent mechanism for stable payments now. The Energy Community has repeatedly stressed that in Ukraine the source of compensation for the green tariff is not the best, so we need to focus efforts to find the best mechanism for finding funds to compensate for energy produced from renewable sources.

As an association, we are ready to promote the development of a regulatory environment conducive to attract investors and to be in constant dialogue with government officials in order to guarantee the return on investment of all companies entering the Ukrainian market. Also to establish partnerships with all participants in the RES market in Ukraine” – assured the director of EUEA in her speech.

Link to the video in YouTube channel of Ukrinform:https://www.youtube.com/watch?v=hsLRvkeHwJ0