IRENA to increase investment in Ukraine's renewable energy - Savchuk

Source : 112 Ukraine

The State Agency on Energy Efficiency and Energy Saving of Ukraine is participating at the eigth session of the Assembly of the Renewable Energy Agency
12:32, 15 January 2018

The Head of the State Agency on Energy Efficiency and Energy Saving of Ukraine (SAEE) Serhiy Savchuk described Ukraine’s latest achievements in renewable energy at the eight session of the Assembly of the International Renewable Energy Agency (IRENA) in Abu Dhabi (the United Arab Emirates) on 13 January, the agency’s media liaisons department has informed, Interfax-Ukraine reports.

“The government of Ukraine has walked a long way to join the Statute of IRENA. Such bill, #2222-VIII, drafted by the State Agency on Energy Efficiency and Energy Saving, has recently been adopted by parliament and signed by the President into law,” Savchuk said. He added that the Foreign Minister of Ukraine Pavlo Klimkin has recently signed the respective document on the country’s accession to IRENA.

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The agency said in a statement published on 13 January that over 1,200 delegates from 150 countries came to the global event to discuss strategies for the development of clean energy.

Savchuk presented the latest of Ukraine’s achievements in the area of renewable energy and prospects of cooperation with IRENA, particularly in attracting “green” investments.

According to IRENA Director-General Adnan Amin, the cost of producing clean energy is lower, technology is being improved, and the development of renewable energy is accelerating throughout the world. In his words, this means that the world is entering a new era of energy transformation and renewable energy is becoming an essential driver for economic growth, job creation and social development, while resolving the challenges of climate change and reducing harmful emissions.

Related: Energy Efficiency Fund starts its mission in Ukraine

Savchuk encouraged delegates from over 150 countries to maintain close cooperation with Ukraine, emphasizing on the advantages of the country’s renewable energy market.

Particularly, the potential for wind energy development in Ukraine is among the largest in Eastern Europe. Also, Ukraine offers considerable opportunities for the broad implementation of projects on energy production from biomass and waste.

Related: EBRD to assign €9 million to Kremenchuk’s energy efficiency program

Savchuk also discussed the current trends in clean energy development in Ukraine and around the globe with the Director of the Energy Community Secretariat Janez Kopac and the President of the Energy Watch Group, former German MP Hans-Josef Fell.

Related: Ukraine's access IRENA renewable energy agency statute

Upon joining IRENA, Ukraine will be able to attract more green investment, obtain cheap loans for “green” projects and develop joint mechanisms for financing the preparation and implementation of quality projects. The forum participants also discussed issues for the improvement of energy efficiency across different sectors of the national economy, including manufacturing.

According to IRENA, over $1 trillion has been invested in renewable energy across the globe since 2013. At the same time, approximately ten million new jobs have been created.

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