Recently, Anna Matyushko, assistant auditor of BDO in Ukraine, as part of the work of the “Natural Resources and Energy” industrial group, took part in a meeting with the leadership of the Ministry of Energy of Ukraine and business representatives.
The event took place at the Ukrainian Chamber of Commerce and Industry and brought together representatives of more than 90 companies and foreign diplomats. Deputy Minister Svitlana Hrynchuk, Deputy Minister for European Integration Yaroslav Demchenkov and Deputy Minister Mykola Kolisnyk discussed prospects and strategies for the development of Ukraine's energy sector and the integration of the Ukrainian energy market into European standards and practices, as well as the development of renewable energy sources.
Discussing the integration of Ukrainian energy markets into European ones is a key step in the process of restoring and reforming the sector. The participants of the meeting actively engaged business in this process and considered the possibilities of implementing European standards and practices.
The adopted draft law on the “green” transformation and development of Ukraine's renewable energy sector (RES) opens up new investment opportunities and stimulates the development of the sector. The process of developing key regulations, such as quota allocation and guarantees of origin, demonstrates the authorities' determination to attract more investment in the renewable energy sector.
The “green” transformation of the energy sector not only helps to reduce carbon emissions and dependence on energy imports, but also stimulates innovation and job creation. It also helps to implement the principles of sustainable development and ensure the country's energy security.
Measures aimed at developing renewable energy have the potential to make Ukraine one of the leaders in renewable energy in the region, while ensuring sustainable economic development and preserving the environment for future generations.
The meeting addressed the main challenges and prospects of Ukrainian energy systems, as well as business development opportunities. An active discussion was held on investments in green hydrogen development and tenders for attracting foreign assistance, with the Ministry of Energy taking a prominent position on:
- Stimulating electricity exports, in particular from renewable sources, as means of reducing debt in the sector.
- Implementation of energy storage systems and development of smart grids to increase the resilience and flexibility of the energy system.
- Restoring and developing nuclear power, including through the potential completion of nuclear power plant units, as well as considering the use of small modular reactors.
- Adapting to possible changes in enemy military tactics and focusing on the protection of critical infrastructure and decentralization of energy generation.
- Integration with the European energy market, including both technical and legislative aspects, and fulfillment of the requirements of European energy packages.
- Development of hydrogen energy as one of the priority areas, with an emphasis on the need to start investing in this sector now.
- Simplification of grid connection procedures for small and medium-sized generating facilities.
- Active participation in international tenders and projects to attract external financing (Energy Support Fund of Ukraine, USAID Energy Security Project).
This meeting not only reflected the current state of the energy sector, but also emphasized the importance of cooperation between different stakeholders. Such an approach will contribute not only to the development of the energy sector, but also to the overall economic growth and competitiveness of Ukraine in the international arena.
BDO in Ukraine's participation in this event emphasized the importance of cooperation and discussion of energy sector development strategies. We gained insight into the prospects of this industry in Ukraine and saw the Ministry of Energy of Ukraine's ongoing work on important legislative and strategic initiatives, such as the hydrogen strategy. This demonstrates the government's willingness to support business and offer a variety of methods to attract international assistance. This approach reflects our shared commitment to developing a stable and competitive energy sector, which is key to Ukraine's future.
“Such meetings are important and valuable, where the government and business can communicate openly. It shows that our country is on the right track to create a competitive, safe and affordable energy sector, which in turn will attract investment and promote sustainable development," - said Anna Matyushko.
Whether you are planning to develop renewable energy projects, integrate your business into European markets or receive international assistance, we have all the necessary resources and knowledge to achieve your goal. BDO in Ukraine is always open to cooperation and ready to help you at every step. Contact us today for professional advice and to establish a mutually beneficial partnership.
