USD 4.8 bln invested in green energy over past 5 years – PM Honcharuk

USD 4.8 billion has been invested in the renewable energy sector of Ukraine over the past five years, Prime Minister Oleksiy Honcharuk states.

He said this during a meeting with Director-General of the International Renewable Energy Agency (IRENA) Francesco La Camera, the Government portal reported.

“A number of renewable energy projects with a total capacity of 2.5 GW is being implemented in Ukraine. This is the highest performance in all the years of independence of our country. The sum worth USD 4.8 billion has been invested in this area over the past five years,” Honcharuk said.

He emphasized that the Government’s goal was to increase the share of renewable energy. “We are developing a strategy for the transition to renewable energy up to 2050. We would greatly appreciate cooperation with IRENA in this area,” the prime minister said.

In turn, Mr. Francesco La Camera expressed support for the actions of the Ukrainian Government. “Ukraine is heading in the right direction. IRENA stands ready to support Ukraine in its efforts to develop a renewable energy system,” he said.

Apart from other things, the parties discussed the introduction of the system of auctions for the purchase of electricity produced from alternative energy sources to stimulate the development of renewable energy sector. The first auction will be held in April 2020.

Finally, PM Honcharuk thanked Francesco La Camera for his visit to Ukraine and expressed hope for deeper cooperation between Ukraine and the Agency.

The International Renewable Energy Agency (IRENA) is an intergovernmental organisation founded in 2009 to support countries in their use of all forms of renewable energy.