On 18 December 2018, the EU-Ukraine Renewable Energy Investment Forum takes place in Kyiv, co-organised by the European Commission’s Directorate-General for Energy, Ukraine’s Parliament’s (Verkhovna Rada) Energy Committee, the Ukrainian State Agency on Energy Efficiency and Energy Saving, and Ukraine’s energy think-tank, Dixi Group.
The forum’s aim is to showcase the EU’s best practices on its uptake of renewable energy sources and discuss policy measures to boost the market and increase the share of renewables in Ukraine by 2020. The EU is leading the way in the global clean energy transition, in the process becoming the world number one in renewables. By agreeing in 2018 on ambitious renewable energy and energy efficiency targets and a new supporting regulatory framework, the EU is keeping its leadership role in the fight against climate change, and upholding its commitments under the Paris Agreement. In addition, the EU has now put on the table its long-term vision for 2050, aiming to become the world’s first major economy to go climate neutral by mid-century.
As Ukraine reforms its energy policy in line with the EU energy acquis, provided for in the EU-Ukraine Association Agreement and undertaken by Ukraine in the Energy Community Treaty, the Renewables Investment Forum is an excellent opportunity to discuss and share best practices from the EU as well as from other parts of the world. The event will gather some 200 key Ukrainian and European stakeholders working on energy policy and renewable energy policy in particular, as well as members of the international community active on renewable energy policy in Ukraine.
Speaking before the start of the forum, the European Commission Director-General for Energy, Dominique Ristori, said: “The EU’s vision to put Europe at the forefront of clean and renewable energy production and the fight against climate change is now becoming a reality. Our policies are accelerating public and private investment in renewables, creating jobs and growth, and enabling citizens to benefit from the transition to a modern and clean economy. Our Ukrainian partners have also come a long way in this path, and it is solid proof of the European commitment of the Ukrainian nation. I believe this event will be a catalyst to unlock all the potential Ukraine has in the field of renewable energy sources. In particular I hope the discussions will focus on innovative approaches on renewable energy and the use of cutting-edge technology.”
Head of the EU Delegation to Ukraine, Ambassador Hugues Mingarelli added: “Renewable energy will contribute to the establishment of a more competitive and sustainable electricity market in Ukraine. It will help reducing emissions and air pollution, and it will facilitate the integration with the EU electricity system. The European Union will continue to support the development of a sustainable electricity market in Ukraine, and I am convinced that this forum can make a very useful contribution on this way.”
On Ukrainian side, the Acting Head of Ukraine’s Parliament’s Energy Committee Oleksandr Dombrovskyi commenting on legislative initiatives aimed at boosting RES development in Ukraine noted: “Introduction of auction system will reduce the cost of “green” energy for consumers and will create the conditions for effective competition. Today, renewable energy sector in Ukraine is developing rapidly, especially this is relevant for solar and wind electricity generation. So, installed capacity of solar power stations at the end of the III quarter 2018 reached approximately 1100 MW, while at the end of 2014 it was at the level of 411 MW. Recently, the cost of electricity generated from RES has been reduced in the world considerably as active development of technologies in this area contributes to making equipment cheaper. Therefore, the need in changing the approaches in support of RES generation in Ukraine has appeared. We have to define the new strategic horizons for planning and perspectives for Ukrainian and foreign investors. New support system, proposed in the text of our revised draft law shall balance the interests of electricity consumers and other market participants by providing further development of renewable energy sector and by reducing the growth of financial pressure on the end electricity price. The electricity price will be defined in the process of competition – from introduction of auctions the consumers, the participants of competitive market and investors will win“.
Head of the State Agency for Energy Efficiency and Energy Saving of Ukraine Sergiy Savchuk speaking about renewable energy status and results informed that: “Over the past 4 years, about 1.5 billion euros have been invested in new renewable energy projects in Ukraine. In particular, 1 billion euros are invested in more than 1000 MW of new renewable power generation and 460 million euros – in 2000 MW of new biomass-to-heat generation capacities. It is a great contribution into energy independence and economic development of Ukrainian communities. Today, we continue improving the legislation with the aim to create favourable conditions for renewable energy development, attracting the best European experience“.
Among the main participants on the Ukrainian side were Vsevolod Kovalchuk, Acting CEO of Ukrenergo, and on the EU side, Gerassimos Thomas, Deputy Director-General, DG ENER.
IRENA Facilitates Investment and Renewable Projects on Ground in Africa
Boosting renewable energy projects on the
ground requires scaling up investment. IRENA’s state-of-the-art analysis of
enabling policy frameworks and finance mechanisms channel public and private
investment in markets like Africa, Latin America, Asia, South-East Europe and
the Small Island Developing States (SIDS). Now, IRENA is taking its work one
step further by increasing the Agency’s on-ground impact with 15 regional and
sub-regional platforms which aims at scaling up renewables deployment and
One step in this new direction is the event that took place in Johannesburg as part of the Africa Investment Forum hosted by the African Development Bank. It facilitated renewable energy deal-making in Sub-Saharan Africa in partnership with Power Africa and the African Trade Insurance Agency. The event corresponds to IRENA’s new direction and way forward ensuring an acceleration of the renewable energy transformation globally.
Speaking at the Investment Forum in South Africa, IRENA’s
Director-General Francesco La Camera underlined the importance of renewable
energy to meet sustainable economic growth and Africa’s climate and development
ambitions. “Now more than ever, renewables have become a compelling investment
proposition”, said La Camera. “With renewable energy technology prices set to
decline, the cost-competitiveness of renewables will strengthen further.
IRENA’s analysis shows that nearly a quarter of Africa’s energy needs could be
met from indigenous and clean renewable energy sources by 2030. This would
result in a wide array of socio-economic benefits in terms of economic growth,
welfare, employment and energy access. It’s Possible”.
IRENA has been committed to supporting African governments in their quest for a sustainable energy future. The Agency has supported countries in building attractive investment frameworks for renewables to strengthen institutional and technical capacity. It has also supported the development and financing of renewable energy projects through project facilitation tools.
“A lot remains to be done to address the key risks and barriers that hinder the scale-up of renewable investment in the region”, La Camera continued. “There is no shortage of renewable energy project proposals which are competing for investor capital. But they are not always financially viable. Many proposals fail to materialize due to high cost of capital, limited access to risk mitigation solutions and long delays in projects”.
By building on its extensive project pipeline in Sub-Saharan Africa with over 90 renewable energy projects, the Agency has showcased 10 renewable energy projects at the Investment Forum. Projects from Cameroon, Cote D’Ivoire, Kenya, Mali, Senegal, Sierra Leone and Togo which have a total capacity ranging from 6 MW to 70 MW – covering technologies like wind, solar, bioenergy and hydropower – were presented.
IRENA’s project facilitation platform provides project owners and developers with increased visibility for their projects among financiers and other market players. Project owners have access to wide range of financial instruments provided by multiple investors from development finance institutions, private companies, utilities, private equity funds, donor and multi-donor facilities, commercial banks and more, as well as access to different services for example legal and financial advisory, environmental, project development and Engineering Procurement and Construction contracting.
More information about IRENA’s project facilitation.
UNIDO and Morocco’s MASEN to strengthen cooperation to deploy renewable energy technologies
The United Nations Industrial Development Organization (UNIDO) and the Moroccan Agency for Sustainable Energy of the Kingdom of Morocco (MASEN) signed a Memorandum of Understanding (MoU) to develop and implement projects deploying advanced renewable energy technologies in Morocco and targeted African countries, with the aim of creating aspirations to support African countries on their path towards inclusive and sustainable industrial development.
The partnership with MASEN complements UNIDO’s ongoing activities under its flagship ‘Low Carbon Low Emission Clean Energy Programme’ in Africa, which seeks to reduce poverty by promoting industrial growth through renewable sources of energy. It already started in 2017, on the margins of the 22nd Session of the Conference of the Parties (COP 22) to the UN Framework Convention on Climate Change (UNFCCC), when UNIDO Director General LI Yong, and MASEN President Mustapha Bakkoury launched the Vanadium Flow Battery project to demonstrate smoothing and stabilizing electricity output. An official handover ceremony is planned to take place in Ouarzazate, Morocco, in conjunction with a workshop gathering Moroccan officials and representatives from neighboring countries.
With MASEN’s support, UNIDO proposes to create a platform for the dissemination of renewable energy technologies in targeted countries while developing the local production of some technology components, thus creating grounds for achieving shared prosperity, economic competitiveness and environmental sustainability.
IRENA Concludes its Eighteenth Council
High-level representatives from 124 member countries attended the 18th meeting of the IRENA Council, held on November 5 and 6, 2019, in Abu Dhabi, to review the Agency’s progress and explore its future plans to accelerate the global energy transformation to ensure a sustainable, climate-safe future.
Council Chair Mr. Guy Lentz, Luxemburg Coordinator for the EU and Inter Energy Issues, set the tone of the discussions by encouraging IRENA Council delegates to strive for a fair energy transition through renewables.
IRENA Director-General Francesco La Camera echoed the Council Chair by emphasizing the central role renewable energy plays in both sustainable development and climate action. “This morning, we reflected on the profound shift in the global energy dynamics which will result in a very different world in the coming decades. The evolution of the existing energy architecture into a low-carbon and economically vibrant system is central to the global strategy on sustainable development and climate,” he said.
Ambitious renewable energy targets are now common in many countries, however, Mr. La Camera identified the gap between deployment goals and the investments necessary to achieve them as the biggest challenge facing the energy transformation.
To bridge this gap and accelerate the rate of energy transformation to meet climate goals, the Director-General proposed to the Council a Work Programme and Budget that aims to make the Agency:
- More proactive: monitoring trends and recognising opportunities.
- More efficient: streamlining programmatic output to more impactful activities, with a decisive shift to action on the ground.
- More collaborative: developing partnerships with implementing partners, such as UNDP, taking advantage of IRENA’s significant knowledge and convening power to catalyse action on the ground.
Council members lauded the Agency’s decisive shift to action on the ground, supporting the Director-General’s plans to improve programmatic engagement with all members, initiatives and partnerships. One of the key aspects of the discussions was IRENA’s plan to take a more regional and sub regional approach to its programmatic activities. Griffin Thompson, Director of the Office of Electricity and Energy Efficiency at the U.S. Department of State, supported this approach stating, “The reality of the renewable energy transition is that there are multiple transitions and pathways. We support IRENA’s proposal to work at a more regional & sub-regional level, which speaks to these nuances.”
In alignment with the Agency’s plans, Mr. La Camera announced the appointment of Gauri Singh, Principal Secretary of the Public Health & Family Welfare Department at the Renewable Energy Corporation and former Director of IRENA’s Country Support & Partnerships Division, as the new IRENA Deputy Director-General.
On its second day, the Council’s meeting followed up on discussions from the UN Climate Action Summit in New York as they related to NDC implementation and the Climate Investment Platform. The Climate Investment Platform, a partnership between IRENA, SEforALL, and UNDP, in coordination with Green Climate Fund, aims to declutter and streamline support to developing countries by accelerating action and advancing investments.
On behalf of UNDP, Pradeep Kurukulasuriya, Executive Coordinator/Director, Global Environmental Finance, Global Policy Network, spoke to Council members about the IRENA, UNDP collaboration. “Our partnership is a merging of IRENA’s energy knowledge with UNDP’s backbone of country offices and on-the-ground capabilities – a commonality of purpose, where UNDP draws on IRENA’s expertise to accelerate the 2030 agenda.”
During the Council, two side-events took place. The first lead by IRENA’s programmatic division directors explored the issues facing countries with high shares of renewable energy, highlighting the importance of dialogue and the exchange of experiences amongst countries as well as offering IRENA’s committed support to enhance this dialogue.
The second side event Decarbonising Complex Sectors: Paving the Way Towards a Carbon-Free Economy led by IRENA IITC Director Dolf Gielen, discussed the role renewables, green hydrogen, and advanced biofuels can play in decarbonising challenging sectors such as heavy industry, shipping, and aviation.
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