The EBRD may join the development of green energy in Ukraine

Ukraine needs to create a special insurance fund for investors in green energy, which will accelerate the construction of green power plants and increase the resilience of the energy system. The European Bank for Reconstruction and Development can help with this.

This is reported by RBC-Ukraine, citing a statement by Olga Yeremina, a senior banker at the EBRD’s Energy Department.

‘We support the concept of the Fund, as it can become a key driver of the viability of future investments aimed at increasing the resilience of the Ukrainian energy system and accelerating the deployment of renewable energy projects in Ukraine,’ Eremin said.

As Oleksandr Melnyk, Board Member of the European-Ukrainian Energy Agency, explained, the issue is the creation of a Commercial Risk Insurance Fund that will provide investors with predictability in returning their investments.

According to him, it is international financial organisations that can contribute to the development of new green energy capacities in Ukraine by supporting the idea of creating and operating a Commercial Risk Guarantee Fund.

‘Such a fund, created by international financial institutions, will protect private renewables from fluctuations in the electricity market by guaranteeing a minimum electricity price,’ Melnyk said.

Earlier, representatives of investors reported that Ukraine was preparing to set up a fund to be financed by international financial organizations to stimulate the construction of renewable energy enterprises.