Ukraine’s EU power plan impeded by subsidy backsliding
Kiev wants to modernise and decarbonise its power sector—but is scaring investors away by retroactively cutting subsidies for renewables
Ukrainian prime minister Denish Shmyhal recently set out plans for his country to join the EU’s Green Deal and synchronise its power system with the European grid by 2023. This seems easier said than done. Ukraine is primarily dependent on nuclear for power generation, accounting for c.50pc, but it is also reliant on coal for c.30pc, according to BP data. Renewables account for around 9pc and, excluding hydroelectricity, this falls to less than 5pc. Solar PV has been growing steadily in recent years, rising from negligible levels only a few years ago, and is fast approaching 6GW of installed capacity. Ukraine is targeting 25pc of renewables in its generation mix by 2035. Government subsidies
Also in this section
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies
8 April 2024
Chevron New Energies is lead investor in funding round by Colorado-based provider of post-combustion capture technology