KYIV. April 7 (Interfax-Ukraine) – The German government intends to create a green renewal fund for Ukraine, the funds of which should be used to support green transformation investment projects, Director of Global 100% RE Ukraine, Board Chairman of the Association of Energy Service Companies of Ukraine Oleksiy Korchmit has said.

"The Ukrainian-German Energy Partnership [a platform for supporting intergovernmental dialogue on energy issues] conveyed to us the clear opinion of the German government that it wants to create a green renewal fund for Ukraine, that is, a green fund, and direct investment from Germany there in support of green transformation," Korchmit said at a press conference of the Global 100% RE Ukraine expert platform on signing a cooperation agreement with German renewable energy associations at Interfax-Ukraine on Friday.

At the same time, Korchmit said that such a fund could be created as early as June this year, and, according to the German partners, it should be based on co-financing and the provision of guarantees of return on investments.

"We must show a certain partnership mechanism... If there is no co-financing, German colleagues will not believe us. They want two things – co-financing and guarantees of return on investment," he said.

As reported, on March 29, 2023, Global 100% RE Ukraine signed a memorandum of understanding and cooperation with Germany's largest renewable energy association Bundesverband Erneuerbare Energie (BEE). It includes associate members Fachverband Biogas e.V, German Wind Energy Association, and BSW Solar.

The main goal of the memorandum is to create and maintain permanent contacts, strengthen cooperation between Germany and Ukraine in the field of renewable energy and climate, develop measures to protect the environment, stop climate change, accelerate the green transition, and develop the export potential of green sectors of the Ukrainian economy.