Prospects for foreign investments in Ukraine’s “green” recovery: results of the DiXi Group and EBRD roundtable
DiXi Group Think Tank together with the European Bank for Reconstruction and Development (EBRD) organized a roundtable discussion “Investments in Energy for Green Recovery: Needs and Opportunities” within the framework of the Ukraine Recovery Conference (URC 2023). The event took place at the EBRD headquarters in London.
Following Russia’s full-scale invasion of Ukraine, the country’s energy sector has experienced severe attacks. The damage caused has resulted in over 50% of the energy infrastructure being destroyed. The Ukrainian government has announced a “build back better” approach to energy sector recovery, with an emphasis on renewable energy sources and energy-efficient technologies. But it is impossible to achieve this without active participation of private investors. Opportunities and prospects of private investments were discussed during the roundtable.
The participants discussed the current state of Ukraine’s energy system and preparations for the winter of 2023/2024. The roundtable brought together representatives of the Government of Ukraine, foreign investors, politicians and experts to discuss Ukraine’s urgent energy needs and create conditions for long-term green recovery and investment in local generation.
«DiXi Group and the EBRD have brought together key stakeholders – investors, donors and three ministries – to discuss the obstacles that prevent businesses from ensuring a green recovery and to develop ideas to stimulate investment in the energy sector. This conversation should kick-start better cooperation that will benefit everyone», Olena Pavlenko said during the opening of the first session of the event.
According to Anton Antonenko, DiXi Group Vice President, when it comes to business, details matter in legislation, regulation and interaction between government and investors.
«It is important to the government to remain transparent in developing new rules, not to change them too often, but to keep them clear and simple. Support from international partners such as the EBRD, EIB and Energy Community, is also critical to increasing trust among energy stakeholders», he said.
The discussion was attended by Deputy Minister of Energy of Ukraine in charge of EU integration Yaroslav Demchenkov, Deputy Minister of Economy of Ukraine for Digital Development, Digital Transformations and Digitalization Oleksii Sobolev, Head of State Agency on Energy Efficiency and Energy Saving of Ukraine (SAEE) Anna Zamazieieva, EBRD Managing Director, Eastern Europe and the Caucasus, Matteo Patrone, Country Manager of the World Bank Gevorg Sargsyan, Director of Secretariat of the Energy Community Artur Lorkowski and others.
For more information on the results of the discussion on the recovery of Ukraine’s energy sector during the Ukraine Recovery Conference 2023, please follow the link.