Participation of Ukraine in IRENA - the possibility of introducing effective mechanisms for financing green projects on best world practices

Ways to increase investment in renewable energy were discussed by parliamentarians, government officials, representatives of financial institutions and businesses from around the world, including Ukraine, at the Ministerial Round Table at the 8th IRENA Assembly on January 13.

IRENA experts have noted significant changes in the financing of energy projects in the world over the last few years. Especially remembered in 2016, when investments in new power of "pure" energy significantly exceeded investment in traditional energy sources. One-third of all funding attracted to China. Also grew "green" investments in the US and European countries.

Participants of the round table noted that, of course, favorable state policy and legislative incentives are the basis for activation of investors and businesses in the "green" energy sector. These are "green" tariffs, and auctions for the purchase of "clean" electricity and other tools.

In turn, representatives of the Ukrainian delegation presented a policy of development of the domestic market of renewable energy sources, focusing on the latest adopted legislative incentives.

Member of Parliament of Ukraine, member of the Verkhovna Rada Committee on Fuel and Energy, Natalia Katser-Buchkovskaya, informed about improving and linking the "green" tariff to "clean" electricity to the euro, establishing a premium for the use of domestic equipment, the introduction of long-term contracts for the purchase of electricity for "green" »Tariff and other incentives.

"Ukraine does not stop there. Together with international partners from countries such as Denmark, Finland, we are exploring the possibility of creating new mechanisms for attracting investment in green projects, taking into account the best world experience. These are "green banks", "green bonds" and other instruments. I am convinced that, in cooperation with IRENA, we will be able to receive all relevant information on the development of such financial mechanisms in the world, receive expert advice and, together, make progress on this issue, "said Sergey Savchuk, Head of State Department of Energy Efficiency.

S. Savchuk recalled that joining the IRENA would allow Ukraine to submit applications to the Abu Dhabi Development Fund (https://www.adfd.ae) for receiving preferential loans for "green" projects.

Also, the event was presented by IRENA, designed to stimulate the implementation of "green" projects. Important developments are the following online tools:

- IRENA's Global Atlas (https://irena.masdar.ac.ae/gallery/#gallery), which demonstrates the potential of renewable energy development worldwide;

- Project Navigator (https://navigator.irena.org/index.html) - an online guide for developing green projects.

 Press Release