Business news from Ukraine


4 July , 2022  

Ukraine, as part of the post-war reconstruction, aims to build 7.1 GW of renewable energy facilities, Energy Minister German Galushchenko said.
“Our goal is to build 7.1 GW of new renewable energy capacity, moving to market models of green energy incentives, in particular green auctions. We also plan to install 750 MW of storage capacity in the first stage,” the minister said during an online high-level meeting “Green energy for the reconstruction of post-war Ukraine” (“Renewables to power post-war Ukraine”), organized in Brussels on Monday.
According to him, cited in the release of the Ministry of Energy, green transformation will be at the center of the post-war reconstruction of Ukraine, and the decarbonization of the energy sector of Ukraine is planned to be carried out, in particular, thanks to the development of safe and carbon-neutral nuclear energy.
“We are considering 10 GW of hydrogen exports from Ukraine to the EU, which the European Commission outlined as our starting figure,” the minister added.
The Solar Energy Association of Ukraine, for its part, announced that as a result of this meeting, it, the Ukrainian Wind Energy Association and relevant European associations WindEurope and SolarPower Europe signed a joint statement to the leaders of Ukraine and the EU calling for the use of renewable energy in the post-war reconstruction of Ukraine, setting a goal to achieve 50% renewable energy in the production of electricity until 2030 through onshore and offshore wind energy, as well as the development of rooftop and ground solar power plants.
“To achieve these goals, Ukraine and the EU must create a strong and sustainable technological, industrial and investment partnership in order to attract the necessary investments in renewable energy sources, as well as in sustainable and fully synchronized electricity networks. Therefore, we call on the leaders of Ukraine and the EU to create a special tool “Renewable energy for Ukraine” as part of the joint strategic plan for the reconstruction of Ukraine.
As noted in the association, the European Energy Commissioner Kadri Simson, who also took part in the meeting, reaffirmed the EU’s determination to support Ukraine – both during the war and during the period of reconstruction.