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24.01.2019

DAVOS STRENGTHENS UKRAINE'S PATH TO RENEWABLE ENERGY

On January 23, 2019, in Davos, in the presence of President of Ukraine Petro Poroshenko, an agreement was signed between the Norwegian company NBT, the French company Total Eren and the European Bank for Reconstruction and Development to raise finding for the Sivash project implemented by Syvashenergopom Company in Kherson region.

Total Eren, the renewables arm of oil and gas giant Total, enters the Ukrainian market together with the Norwegian NBT and will invest in the construction of the 250 MW Sivash Wind Farm. Total investments exceeds 350 mln euros, among which 150 mln euros will be provided by the EBRD together with a consortium of several banks.

Speaking at the signing ceremony, the President of Ukraine Petro Poroshenko emphasized: "I think that today it is a very important characteristic when every day, every week, every month investments come to Ukraine. It is very important that they come with the well-known French companies. It is very important that they come in such a sphere as renewable energy. It is very important that this proves the effectiveness of the investment council under the President, when companies with a total of $ 1 trillion in capitalization sit at one table and allocate some of these funds to Ukraine."

The same day in the morning, a very interesting panel “Making the Planet Great Again: Charging Ahead with Renewable Energy” dedicated to the role of “green” energy for sustainable development of world economy and for modernization of the Ukrainian energy sector was held in Ukraine House Davos. Panel speakers shared their views and ideas on such very important for Ukraine issues as: possibility of RE auction implementation in Ukraine and their effectiveness, the European experience and current global challenges to be overcome in increasing use of renewable energy sources and reducing consumption of fossil fuels. The event was sponsored by Michael Yurkovich, CEO of TIU Canada.

Janez Kopač, Director of the Energy Community Secretariat, stressed that climate change issues could be addressed through the decarbonisation of the energy sector, including transition to renewable energy sources and implementation of energy-saving and energy-efficient technologies.

Carl Sturen, CEO of Vindcraft Ukraina and David Corchia, CEO of Total Eren, expressed their visions on RES potential and opportunities to use wind, solar and bioenergy technologies in Ukraine - in a country with great renewable energy potential, that has not yet been realized.

Commenting on the above mentioned events, Andrei Konechenkov, Chairman of the UWEA Board, Vice-President of the WWEA, pointed out: "Transition to renewable energy is a key issue for Ukraine. Such transition requires not only investments as one of the crucial elements in this process, but also technical possibilities for further development of electric grids to connect new wind and solar energy capacities. I would like to congratulate Sivashenergoprom Company, a member of our association, and wish them every success in implementing their wind power project”.

The UWEA Secretariat expresses its gratitude to Science and Technology Company Metropolia for financial assistance to enable Chairman of the UWEA Board to participate in the International Economic Forum events related to the deployment of renewable energy sources worldwide and in Ukraine.