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18.02.2021

RES INVESTORS MET WITH ACTING MINISTER OF ENERGY OF UKRAINE

I’m a supporter of “green” transition and personally interested in making our energy sector “green”, because it means clean air and a clean environment for us and our children. The “green” transition must be sustainable both economically and politically,” Mr. Yuriy Vitrenko, Acting Minister of Energy of Ukraine

On 18 February 2021, the UWEA’s member companies had a meeting with Mr. Yuriy Vitrenko, Acting Minister of Energy of Ukraine. The UWEA’s delegation included Andriy Konechenkov, the Chairman of the UWEA Board, and representatives from such wind companies as UDP Renewables, GÜRİŞ, Vindkraft Ukraine, DTEK RES, Yuzhne Enerdzhi LLC, EuroCape Ukraine I, Elementum Energy, MC Wind Parks of Ukraine LLC, and NBT.

The participants discussed the current state of the national wind power market and focused on its further development and possible solutions to the crises caused by indebtedness and lack of a clear strategy for further wind energy development in Ukraine.

Andriy Konechenkov underlined the UWEA’s readiness to facilitate the development of the Road Map for Wind Power Development in Ukraine. “I think that it is our responsibility to develop this road map with the maximum involvement of all parties: market participants, investors, steakholders, and consumers both industrial and household. It is supposed to be a real document for sustainable development of the whole industry,” Acting Minister of Ukraine agreed.

Mr. Vitrenko also informed on possibility of issuing “green” bonds under state guarantees to balance the renewable energy market: “Green” bonds are one of the most important short-term measures, since they can completely overcome the issue of indebtedness and partially compensate the difference between the “green” tariff and this year’s market price,” the Head of the Ministry explained.

Long-term measures are also being developed. For example, a possibility is studied of increasing the carbon tax rate to compensate the “green” electricity. Nowadays the carbon tax rate in Ukraine is ten times lower than in the European Union, while level of emissions  remains one the highest in Europe: “It is the polluter pays principle in real. And it is only fair. Those who make living conditions better and the environment cleaner - should receive some compensation”, Mr. Yuriy Vitrenko underlined.