It is necessary €20 billion for investments in renewable energy of Ukraine – the State Agency on Energy Efficiency

Ukraine is rapidly introducing renewable energy generation facilities. In order not to slow down, it is needed to continue investing and solve the issue of balancing and accumulating electricity.

This was told by Director of the Department of Renewable Energy and Alternative Fuels of the State Agency on Energy Efficiency, Yuriy Shafarenko during the ENERGY SECURITY FORUM.

According to him, 2.5 thousand MW were commissioned in 2019. And this is one of the key positive points in the Ukrainian energy sector. This is an additional investment, jobs, updating our power system, which is inefficient.

“And this is our contribution to the future. In 10 years, those projects that are being built now will compete even with nuclear generation. Because the main resource – the sun and the wind – are free, operating costs are negligible, so the cost of electricity can fall, starting from 2030. Our main goal is 11% (the share of renewable energy sources in the energy balance of Ukraine – ed.) in 2020 and 25% in 2035. I believe that this is not a problem, given the pace that we are seeing”, said Shafarenko.

According to him, this requires about €20 billion – not a small amount, but in Ukraine it is a very promising direction and there is an opportunity to invest these funds and develop, build facilities. Over the past 4 years, about €4 billion have been invested in Ukrainian renewable energy facilities, said Shafarenko.

According to the representative of the State Agency on Energy Efficiency, it is necessary to give the technical ability of the network to perceive these objects. Ukrenergo stated that they had already exhausted the limit by which they could easily accept renewable energy into their power system.

“Of all the megawatts that are built, 4,500 need an adjustment. This is the sun and wind (solar and wind plants – ed.), whose work depends on weather conditions. Therefore, we need an urgent decision on the accumulation of electricity”, said Shafarenko.

Recall that in November Guaranteed Buyer paid UAH 1.8 billion for “green” electricity.

Tags: solar energy, wind energy, electricity, energy market, Ukrenergo, electricity market, ВИЭ, investments, investors, power system balance, energy storage

Read also

IKEA превратит один из своих супермаркетов в хранилище зеленой энергии
The Verkhovna Rada adopted a draft law to reduce FIT
Lithuania launched electric buses that are made from plastic bottles