EBRD plans first auctions to support renewables in Ukraine this year – associate director

The European Bank for Reconstruction and Development (EBRD) plans to hold the first auctions this year under the Ukraine Risk Mitigation Mechanism (URMM) for renewable energy, supporting approximately 1 GW of capacity in the first phase, EBRD Associate Director Olha Yeriomina said.

"We plan to launch the first auctions for the renewable energy risk mitigation mechanism jointly with the World Bank Group and with close support from the European Commission and many other donors already this year. Consultations are currently beginning with renewable energy producers who may participate in the mechanism," Yeriomina said during an online presentation at Energy Storage Day-2026, organized by the Ukrainian Wind Energy Association in Kyiv on Monday.

According to her, the approximate capacity the EBRD aims to support in the first phase is about 1 GW. As reported, this mechanism involves guaranteeing market risks by providing minimum electricity price guarantees to renewable energy producers and protecting them from market fluctuations.

Yeriomina said that the EBRD hopes to build on successful auctions for Ukraine to provide long-term support for renewable projects, which the industry needs.

The banker explained that the support auctions are primarily designed for wind projects, as well as solar projects built with energy storage systems. She added that stand-alone energy storage systems are unlikely to participate in this mechanism.

"The details of this mechanism are currently being worked out, although the general scheme is already clear. It will be support for approximately 15 years under a scheme similar to contracts for difference. A minimum price will be guaranteed and will be determined for specific projects through competitive auctions," Yeriomina said.

She urged interested business representatives to contact the bank to participate in the consultations it is currently conducting with current and potential renewable energy investors.

"The goal of this mechanism is to show that it is worth attracting private investment into Ukraine's power industry. We hope for success. Since this mechanism will also accumulate certain funds when the market price is above the [guaranteed] price corridor, it may be possible to extend this mechanism to a larger capacity than 1 GW," the banker said.