June 9, 2012

Ukraine improves legal base for renewable energy investment

The State Agency on Energy Efficiency and Energy Saving of Ukraine is continuing to improve the legislative and regulatory base to improve conditions to attract investment in renewable energy in Ukraine, Agency Head Mykola Pashkevych has said.

"We are constantly working on improving the legal base. In close cooperation with profile associations and international experts we are monitoring all of the latest trends in the development of technologies. First of all, we are systematically correcting all regulatory deficiencies to maximally simplify the work of investors," he said.

According to him, the work done will attract very serious investment in the renewable energy sector to the country. This concerns not only the construction of new energy generating facilities and the development of power grids but also the creation of a high-tech industry, and the development of domestic technologies.

"In a competitive environment for investment resources Ukraine must become more attractive to investors. It needs to move forward after first successful steps," said Pashkevych.

He stressed that the development of renewable energy in Ukraine is being performed in all possible directions. In particular, at present the parliament is working on a bill on the introduction of a feed-in tariff for electricity from biogas. It is continuing the discussion of clear and transparent conditions for the calculation of a share of domestic work and materials in the construction of power stations operating on renewable energy sources.


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