A7 CONFERENCES anchors its hopes of green energy investment

EnergyCruise'18: EnergyInvestNight, organized by A7 CONFERENCES, took place on the Rosa Victoria liner in Kiev on September 14. The main purpose of the event was to attract funding for energy projects of Ukrainian companies.

The pressing issues of the energy sector were covered at Energycruise: recent legislative initiatives, their impact on the investment climate in Ukraine, and the financial capabilities of the energy sector. The event was held under the Chatham House Rule that provides for anonymity while experts were free to share their thoughts.

According to A7 CAPITAL president Maria Barabash, EnergyInvestNight has become a platform to exchange views among the leaders of the energy sector of Ukraine and the first forum within Ukrainian Energy Week'18, which will be held at the sports complex Olimpiyskiy on November 19-21.

Sergey Savchuk, chairman of the State Agency on Energy Efficiency and Energy Saving of Ukraine (SAEE), spoke on the state of development of renewable energy, legislative initiatives and prospects for investing in this area. He said: "Today Ukraine has a renewable energy market that is further confirmed by more than 1.1 billion euros worth of green investments attracted over the last three years. At the same time, new investors, particularly from Norway, Turkey and China, continue to enter this sector. Now is the time to make the production of clean energy more sustainable and cheaper. Therefore, in consideration of world practice Ukraine introduces the system of auctions."

Ukraine's intentions to go over to holding auctions are also supported by such reputable international organizations as IRENA and the EBRD. The main concept involves the introduction of auctions starting 2020 with a 20-year maintenance period designed for solar farms and windfarms whose capacities do not exceed 10 and 20 megawatts respectively.

Konstantin Gura, advisor to the SAEE chairman, told about sources of financing green projects: "Thanks to close cooperation of the Ministry for Foreign Affairs of Finland, NEFCO and SAEE, the Finland-Ukraine Trust Fund was established. The key objective of the Fund is to help both municipalities and developers make a feasibility study for energy efficiency and clean energy projects."

The main focus of the forum is to attract investments in Ukrainian projects. To explore the list of investment projects of A7 CAPITAL, visit invest.in.ua