UDP Renewables, whose strategic investor is the holding company UFuture, has joined the European Clean Hydrogen Alliance, which was established by the European Commission under the Green 402 GW New Hydrogen Production Capacity Initiative. This step was the beginning of the formation of a new direction of the company’s activities in the field of innovative projects for the installation of “green” hydrogen technology.
The company’s project portfolio currently includes solar and wind energy projects with a total capacity of 570 MW, which allows the implementation of the installation of hydrogen technology on an industrial scale.
The alliance’s priorities are to meet the demand for hydrogen as the main source of energy and to attract investment for decarbonization projects. The Alliance consists of national energy and transnational companies, research institutions, and the European Investment Bank. Leading European energy and industrial companies such as Electricité de France (EDF), E.ON SE, BMW Group, General Electric, AREVA H2Gen, Airbus SAS, Alstom, BASF SE, Bosch Group have joined the European Clean Hydrogen Alliance, and more than two dozen Ukrainian companies.
“Our company is closely monitoring the development of hydrogen technology, because it is the next level of innovation in energy and strategy to provide humanity with resources for life. UDP Renewables’ entry into the alliance is one of such steps, it is a look beyond the horizon and an opportunity to receive information about technologies from its developers and pioneers in the industry,” said Serhiy Yevtushenko, managing partner of UDP Renewables.
Today, the investment potential of the hydrogen market in European countries is estimated at 470 billion euros by 2050. In July 2020, the European Commission presented the “Hydrogen Strategy for Climate-Neutral Europe”. Ukraine received a quota for the installation of 10 GW of hydrogen capacity, which became the basis for the active development of a new energy sector.
UDP Renewables is implementing new approaches and energy innovations to reduce the carbon footprint and for a clean future for future generations.
ADDITIONAL INFORMATION
UDPRenewables is an investment and development company in the Ukrainian renewable energy sector. With diversification in the type of renewable power generation and geography, by 2022 UDP Renewables strives to become one of the largest producers of clean energy in Ukraine, with a total capacity of more than 300 MW.
UFuture is a holding company of Ukrainian entrepreneur Vasyl Khmelnytsky, which has a diversified portfolio of assets in the fields of real estate, infrastructure, industry, renewable energy, pharmaceuticals and IT. In particular, UFuture is a strategic investor in UDP Renewables. UFuture’s assets are valued at $500 million, and the total capitalization of the businesses in which it has invested is up to $1 billion.
Rarytet Insurance Company (Kyiv) in 2020 saw assets of UAH 50.284 million, which is 9.6% less than in 2019, according to the agenda of a meeting of shareholders posted in the information disclosure system of the National Securities and Stock Market Commission.
It is noted that the company’s net profit over last year amounted to UAH 365,000 against a net loss for 2019 of UAH 1.897 million.
According to the company, cash and its equivalent increased by 77.3%, to UAH 11.025 million, net worth remained at the level of UAH 50.050 million, debtor indebtedness decreased by five times, to UAH 1.234 million.
The company does not indicate long-term liabilities, the current ones decreased by 6 times, to UAH 1.674 million
Rarytet Insurance Company was registered in 1999, it specializes in risk types of insurance.
The pharmaceutical company Interchem (Odesa), the double liability company, within the framework of patronage support, has invested UAH 2 million in the project of a unique 3D hologram of the real face of Yaroslav the Wise, which is installed in Saint Sophia Cathedral in Kyiv, Director General of Interchem Anatoliy Reder has said.
“We have invested UAH 2 million in this project. There are plans for further cooperation and new projects,” he told Interfax-Ukraine during a presentation on Thursday, March 4.
Reder noted that recent studies in Saint Sophia Cathedral’s nature reserve made it possible to visualize the authentic features of Yaroslav the Wise. Unique Danish equipment was used for visualization.
The project allows to see the face of Yaroslav the Wise, as he could have been at the age of about 45, while the canonical image of the prince, restored from his skull, creates an appearance similar to the appearance of the Russian monarchs. In this guise, Prince Yaroslav is represented at a much older age.
As reported earlier, Interchem was one of the patrons of the project to drain the foundations and walls of Saint Sophia Cathedral and adjacent monastic buildings from excess moisture using the Swiss technology BioDry.
Saint Sophia Cathedral is one of the historical sites included in the UNESCO World Heritage List. The cathedral is the spiritual center, where the unique knowledge base of the Ukrainian people for the last millennium is concentrated. Thanks to the patrons who restored the cathedral in different historical epochs after enemy invasions and natural disasters, its ancient architecture and the world’s most complete ensemble of original mosaics and frescoes of the 11th century have been preserved. It has 260 square meters of mosaics and 3,000 square meters of frescoes.
At Kyiv Security Forum, organized by Arseniy Yatsenyuk’s Open Ukraine Foundation on Wednesday, some 12 points were presented to strengthen the strategic partnership between the United States and Ukraine.
According to the document, titled “12 Points of Strategic Partnership Between the United States and Ukraine,” the arrival of President of the United States Joseph Biden and the new U.S. Administration offers an opportunity to deepen the strategic partnership and commitment between the United States and Ukraine, as well as advance the interests of both states.
“We, American and Ukrainian politicians and diplomats, former officials, experts and public figures, urge the governments of both countries to develop an ambitious and comprehensive agenda that will deepen our strategic relationship. This agenda should promote mutual interests, contribute to strengthening security and stability in Central and Eastern Europe, promote Ukraine’s further integration into the EU and NATO membership, and outline and prioritize transformative democratic reforms necessary for the full development of Ukraine’s economy and its transatlantic movement progress,” according to a statement.
The officials said in the document that mutual dedication to strengthening democratic values must always remain at the core of the U.S. and Ukrainian relations.
“This implies strengthening democracy and the rule of law, individual freedom, freedom of speech, full independence of the judiciary and anti-corruption institutions, greater transparency and accountability of government actions and open governance, independence of the media and an active civil society. Solidarity and concrete actions to promote these values are needed to strengthening mutual trust, understanding the democratic aspirations of Ukrainians and providing a common basis for cooperation between both countries,” the experts said.
They said the United States and Ukraine must act together to restore Ukraine’s sovereignty and territorial integrity, and contain further Russian aggression.
“This implies expanding our strategic partnership and defense cooperation and the United States seeking new opportunities to increase defense assistance in order to strengthen Ukraine’s ability to deter Russia’s offensive. This means continuing to provide lethal defense assistance and strengthening the Navy. Other areas of possible military cooperation include the development of special operations forces, anti-aircraft and coastal defense,” the officials said in the document.
Its signatories believe that the United States and Ukraine must maintain close dialogue in order to increase the Kremlin’s cost of continued Russian aggression against Ukraine. The United States should also consult closely with Europe on this issue, in particular on strengthening sanctions.
They believe that such negotiations, as well as negotiations with Russia on Ukraine, should be based on the principle “nothing about Ukraine without Ukraine.”
“In consultations with Ukraine and its European partners, the Joseph Biden Administration should explore the possibilities of more active involvement at the highest level by the United States in the negotiation process, which is now being conducted by the German Chancellor and the French President, in order to break the situation and contribute to a real end to the conflict in Donbas , the withdrawal of all Russian and Russian-controlled forces and the restoration of Ukraine’s full sovereignty over Donbas,” the experts said in the document.
The experts also said the United States and Ukraine should also consult on the political, diplomatic and economic steps necessary to bring Crimea back to Ukraine.
“They must work together to ensure international compliance with the principle ‘Crimea is Ukraine’ and maintain the sanctions adopted against Russia for the illegal seizure of the peninsula. We welcome the efforts of the Ukrainian government to create the Crimean Platform as an initiative that will keep the issue of occupied Crimea on the international agenda of the day and remind people, including Russia, that Crimea remains Ukrainian in the eyes of the international community,” according to the document.
In addition, the signatories to the document believe that the United States and Ukraine should consult on steps to strengthen security and stability in the Black Sea region, in particular with the support of NATO and European partners.
“The United States, together with NATO allies, should continue to regularly deploy air, land and sea forces in the region where Russia, Europe, the Middle East, the Balkans and the Caucasus converge,” the experts said.
It also noted that in recent years, the United States and Ukraine have become targets of Russian political intervention, disinformation campaigns and cyber attacks.
“They should exchange their experience and share best practices in combating these and other forms of Russian hybrid warfare,” according to the recommendations.
It is stressed that the Nord Stream 2 pipeline, if completed, would threaten Euro-Atlantic unity and deprive Ukraine of significant transit revenues.
“The United States and Ukraine should consult on how to build and maintain a transatlantic position against the completion of the pipeline, as well as actions that Russia can take against Ukraine to lift the Nord Stream 2 sanctions. At the same time, Ukraine should undertake major reforms to improve energy efficiency and root out corruption in this and other sectors,” the experts said in the statement.
The experts said the United States and Ukraine must work together to advance Ukraine’s NATO integration and Kyiv’s ultimate goal of NATO membership.
“The United States must firmly adhere to NATO’s open door policy and advise Kyiv on how best to prepare for membership, as NATO leaders pledged at the Bucharest summit in 2008. Ukraine must commit to the necessary reforms and practical steps that will lead to its military and other security and defense structures are in line with NATO standards and norms,” according to the document.
It is noted that Ukraine’s membership in NATO will strengthen the North Atlantic Alliance, contribute to the historical unification of Europe and create the preconditions for the transformation of relations with Russia.
Moreover, the renewed U.S.-Ukrainian partnership is associated with the willingness of the Ukrainian authorities to quickly implement transformational democratic reforms and actively act to protect and strengthen the independence of such key institutions as the National Anti-Corruption Bureau (NABU) and others.
“For a strong anti-corruption work, effective reforms of the prosecutor’s office and the judicial system are necessary. Ukraine must also make irreversible the significant reforms already achieved, in particular in the areas of the land market, privatization of state-owned enterprises, the independence of the National Bank of Ukraine, decentralization, transparency of fiscal and budgetary policies in addition to reforms in the gas sector, reforms in the public procurement system and on the transparency of assets and incomes of civil servants and parliamentarians,” the experts said in the document.
In addition, important are steps to remove the excessive influence of oligarchs, establish the rule of law with fair economic norms and practices for large, medium, small and foreign businesses, as well as to strengthen the institutional capacity of the Ukrainian state – all this is crucial for improving the lives of Ukrainian citizens, the experts said.
They said Ukraine should ensure the protection of property rights for all Ukrainian and foreign investors.
“While the Ukrainian authorities should urgently focus on reform, seeing them as urgent tasks, the United States, in coordination with international financial institutions, the European Union and partners from the Group of Seven (G7), should continue to provide support helping Ukraine build a modern democratic an economy fully compatible with the standards and norms of the European Union. In this sense, Copenhagen criteria of the EU form a clear roadmap. Such assistance should directly depend on the implementation of effective reforms,” according to the document.
Among the American signers are Francis Fukuyama; former Deputy Secretary General of NATO Alexander Vershbow; former Ambassadors of the United States to Ukraine John Herbst, Marie Yovanovitch, Steven Pifer, Roman Popadiuk, William Taylor, as well as members of the United States Congress, high-ranked diplomats and well-known experts.
Among the Ukrainian signers are Chairman of the Kyiv Security Forum and Prime Minister of Ukraine in 2014-2016 Arseniy Yatsenyuk; Deputy Chairwoman of the Verkhovna Rada of Ukraine Olena Kondratiuk; Co-chair of Lviv Security Forum and former Deputy Chairwoman of the Verkhovna Rada of Ukraine in 2014-2019 Oksana Syroid; former Secretaries of the National Security and Defense Council of Ukraine Volodymyr Horbulin, Oleksandr Turchunov and Andriy Parubiy; Chairwoman of the Parliamentary Committee on Ukraine’s Integration into the European Union Ivanna Klympush-Tsintsadze; public figures Josef Zissels and Myroslav Marynovych; diplomats Volodymyr Ohryzko, Danylo Lubkivsky, Valeriy Chaly, Kostiantyn Yelisieiev, Volodymyr Vasylenko, Yuri Scherbak, Oleh Shamshur, Oleksandr Motsyk, Volodymyr Handogiy, Roman Bezsmertnyi, as well as members of the Verkhovna Rada of Ukraine from the Servants of the People, European Solidarity, Holos and Batkivschyna factions.
ARSENIY YATSENYUK, KYIV SECURITY FORUM, PARTNERSHIP, UKRAINE, UNITED STATES
Ukrainian industrial company Interpipe signed a long-term contract for supplying of freight wheelsets to INVEHO UFO, one of the largest railcar building and carriage repair companies in France.
According to a company press release, the contract includes the delivery of 1,530 ULT-25 wheelsets to the French customer until September 2022.
INVEHO UFO is going to use them for manufacturing of new freight railcars. ULT-25 wheelsets were designed by Interpipe’s engineers for the European gauge, they are in great demand by clients both in France and Germany as well as in other European countries.
Interpipe Railway Products Division Director Oleksandr Garkavyi said that French INVEHO UFO is its regular customer. Interpipe has already shipped them twice large orders.
“ULT-25 wheelset is one of the most popular designs at the European market of freight trains with speeds up to 120 km/h. The low-stress design of the wheel disc enables to enhance its durability and life cycle. We expect not only to maintain, but also to expand our cooperation with INVEHO UFO with other types of products,” he said.
Philip Morris Ukraine this year predicts a decline in the legal market of heated tobacco products by 3.1 times compared to last year, to 1.5 billion pieces, due to an increase in the excise tax on these products from January 2021 by 320%, Financial Director of Philip Morris Ukraine Maksym Barabash said at a press conference in Interfax-Ukraine.
“A one-time increase in excise taxes by 320% from January 1 requires a price increase of approximately UAH 29 (for a pack of heated tobacco products), not including the price increase due to inflation and the devaluation of the hryvnia. If we transfer this price increase to consumers, the price will increase to 80-90,” he explained.
CEO of the company Kostas Salvaras said that Philip Morris Ukraine supports amendments to law No. 4278, proposing an increase in the excise tax on heated tobacco products by 200% with its further growth by 30% in 2022-2025 instead of a one-time increase by 320%. These changes in the form of amendment No. 55 were adopted in February by the parliamentary committee on finance, taxation and customs policy.
According to the calculations of Philip Morris Ukraine, a smoother increase in the excise tax will help protect the legal market, the capacity of which, if this amendment is adopted, will grow this year by 6.3% compared to 2020, to 5 billion units.
The company also expects that in the event of a gradual increase in tax, the growth of revenues to the state budget in 2021 will not be lower than UAH 4.8 billion planned by the Ministry of Finance, and UAH 6.5-7.5 billion in 2022.
Barabash clarified that a one-time increase in excise tax by 320% will lead to a 1.5-fold increase in prices for the products, and will make illegal import of heated tobacco products four times more profitable than smuggling regular cigarettes. The company’s financial director estimated the profit from the illegal import of one heated tobacco product box at $ 500-800.
In addition, according to him, the equalization of the excise tax rate for heated tobacco products and ordinary cigarettes to 320% will entail a return of users of devices for heating tobacco to cheaper and more harmful nicotine-containing products – cigarettes. He noted that this decision contradicts European practice, since on average in the EU countries the excise tax on heated tobacco products is 72% lower than the excise tax on cigarettes, while in Ukraine this figure is 28%.
Barabash clarified that a sharp increase in the excise tax on this product would jeopardize UAH 4.2 billion already invested in the development of the Ukrainian infrastructure of the IQOS brand, which employs more than 2,000 people. It will also make it impossible to localize the production of heated tobacco products in Ukraine, which could reduce the price of this product.
As reported, Philip Morris International is one of the world’s largest tobacco manufacturers. It produces cigarettes in more than 50 factories and sells them in 180 countries.
The company has been operating in Ukraine for over 20 years. In Ukraine, Philip Morris owns a factory in Kharkiv region, the company employs over 1,300 people.
In 2020, the company reduced the shipment of cigarettes in Ukraine by 4.3% compared to 2019 due to a general market decline, which was partially offset by an increase in the market share of heated tobacco products.
