Ukraine seeks $20b for renewable energy expansion

Ukraine has announced a plan to invest $20 billion in its renewable energy sector, aiming to increase its share of renewables in the energy mix to 27 per cent by 2030.

The country’s energy infrastructure has been severely damaged by Russian missile and drone attacks, which have cut its generating capacity by half since the spring of 2024.

The government’s strategy involves adding approximately 10,000 megawatts of new renewable energy generation capacity.

By 2030, it aims to achieve a 33 per cent share of renewables in heating and cooling supply systems, 29 per cent in electricity generation, and 17 per cent in the transport sector. Currently, renewables account for about 10 per cent of the energy mix.

Additionally, the government plans to hold tenders for constructing new generation facilities, including projects of 700 megawatts and smaller units ranging from 5 to 80 megawatts, with operations expected to start by the end of 2027.

While nuclear power remains Ukraine’s primary low-carbon energy source, it faces safety concerns amid ongoing conflict with Russia.

Attribution: Reuters

Subediting: M. S. Salama