11:33 15.01.2018

Ukraine to speed up attraction of investment in renewable energy with IRENA

Ukraine to speed up attraction of investment in renewable energy with IRENA

Head of the State Agency on Energy Efficiency and Energy Saving of Ukraine (SAEE) Serhiy Savchuk presented Ukraine's latest achievements in renewable energy at the eighth session of the Assembly of the International Renewable Energy Agency (IRENA) in Abu Dhabi (the UAE) on January 13, the SAEE's media liaisons department has reported.

"Ukraine's government has walked a long path to join the Statute of IRENA. The respective law of Ukraine, No. 2222-VIII, which was drafted by the State Agency on Energy Efficiency and Energy Saving, has recently been adopted by parliament and signed by Ukrainian President Petro Poroshenko," Savchuk said, adding that Ukrainian Foreign Minister Pavlo Klimkin has recently signed the respective document on Ukraine's accession to IRENA.

The SAEE said in a statement published on Saturday, January 13, that more than 1,200 representatives from 150 countries gathered at a global event to discuss strategies for the development of clean energy.

Savchuk presented to the IRENA member countries the latest achievements of Ukraine in renewable energy and prospects for cooperation with IRENA, especially in the sphere of stimulating the attraction of "green" investments.

According to IRENA Director-General Adnan Amin, said, the cost of producing clean energy is reduced, technologies are being improved, and the development of renewable energy is accelerating around the world. According to him, this means that the world enters a new era of energy transformation, and renewable energy is becoming an important driver of economic growth, job creation and social development, as well as resolves the challenges of climate change and reduction of harmful emissions.

Savchuk called on representatives of more than 150 countries to maintain close cooperation with Ukraine, focusing on advantages of the domestic renewable energy market.

In particular, he stressed that the potential for wind energy development in Ukraine was one of the largest in Eastern Europe. In addition, the country has significant opportunities for the briad implementation of projects on energy production from biomass and waste.

Savchuk also had an opportunity to discuss trends in the development of clean energy in the world and in Ukraine with Director of the Energy Community Secretariat Janez Kopac and President of the Energy Watch Group, former German MP Hans-Josef Fell.

After joining IRENA, Ukraine will be able to increase green investments, get cheap loans for "green" projects, and develop joint mechanisms for financing the preparation and implementation of quality projects.

In addition to strategies for the development of clean energy, the forum participants also considered issues for improving energy efficiency in various sectors of the economy, including industry.

The Ukrainian delegation participated in the eighth session of the IRENA Assembly with the assistance of the UNIDO/GEF UKR IEE Technical Assistance Project "Introduction of Energy Management System Standards in Ukraine Industry" and the UNDP/GEF Project "Development and Commercialization of Bioenergy Technologies in the Municipal Sector in Ukraine."

According to IRENA, more than $1 trillion has been invested in renewable energy all over the world since 2013. To date, almost ten million new jobs have been created in this area.

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