Daily News
Ukraine Aims to Boost Renewables Production With $20 Billion Plan
Ukraine’s government will require $20 billion in investments to develop its renewable power sector, following a plan which seeks to increase its share in energy production by 2030. Prime Minister Denys Shmyhal announced that the government have approved the National Renewable Energy Action Plan for the years up to 2030, planning to increase production of energy through solar, wind, biogas and hydropower.
Before the start of Russia’s invasion, the share of renewable energy in Ukraine’s grid was approximately 10%. As part of the plan, this figure is expected to increase to a 27% share of renewable energy consumption by the end of the decade.
The country’s energy sector has lost half its generating capacity because of Russian missile and drone attacks, forcing it to rely on its nuclear plants as well as solar and wind generation. By early July, the International Monetary Fund (IMF) estimated the losses of the Ukrainian energy sector due to Russian strikes at $56.5 billion. Russia has repeatedly targeted Ukrainian power infrastructure since the start of the invasion and continues to occupy the Zaporizhzhia Nuclear Power Plant, the largest nuclear power plant in Europe.
This new government plan aims to add around 10,000 MW (megawatts) of new generation facilities, set to be operational by the end of 2027. DTEK, Ukraine’s largest private energy company, said in June that it had lost nearly 90% of its generating capacity due to Russia’s attacks, but aims to recover up to 70% of its power generation capacity by October. They have also announced plans to build the largest wind farm in Eastern Europe, partnering with Danish wind turbine manufacturer Vestas, aiming to diversify and strengthen Ukraine’s energy system.
A new renewables auction programme was also announced, offering 110 MW of renewable capacity in 2024, supporting domestic clean energy companies. Economy minister Yuliia Svyrydenko said that pilot “green” auctions will kick off this fall through the online tender platform ProZorro.Sale. “First and foremost, this initiative ensures transparency in the allocation process. Additionally, it marks a transition to a new support model for renewable energy and aims to attract investments in this sector. Investors will benefit from long-term guaranteed support, enabling them to secure loans, create jobs, and develop new generating capacities,” said the minister.
Energy Minister Herman Halushchenko emphasised that “distributed generation will be a key priority” as renewable energy production can substantially help increase the generation capacity in Ukraine.
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Sources
https://kyivindependent.com/ukraine-green-energy-plan
https://bukvy.org/en/ukrainian-goverment-to-introduce-renewable-energy-auctions/