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HomeNewsUkraine Plans to Invest $20 Billion in Renewable Energy

Ukraine Plans to Invest $20 Billion in Renewable Energy

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Kyiv, August 14 (FFN) — Ukraine is set to require an investment of $20 billion (18.3 billion euros) to develop renewable energy sources as part of a comprehensive plan aimed at increasing the share of renewables in the country’s energy mix to 27% by 2030. This information was reported by the Ukrainian government, as cited by Reuters.

The country’s energy sector has suffered a significant loss, with half of its production capacity being destroyed due to intensified Russian attacks in the spring of 2024. As a result, Ukraine has become increasingly reliant on its nuclear power plants, along with energy generated from solar and wind sources. The government’s plan aims to add new renewable energy facilities with a combined capacity of approximately 10,000 megawatts.

By 2030, the share of renewable energy in Ukraine’s heating and cooling systems is expected to reach 33%, in electricity production 29%, and in the transportation sector 17%, according to the government. The current share of renewables in the energy mix was not specified, but local media reports suggest it is around 10%. Ukraine’s nuclear power plants remain the primary source of low-carbon energy.

Key Figures for Ukraine’s Renewable Energy Plan:

SectorTarget for 2030Current Share (approx.)
Renewable Energy in Heating & Cooling33%10%
Renewable Energy in Electricity Production29%10%
Renewable Energy in Transportation17%10%
Planned Investment$20 billionN/A
New Renewable Capacity10,000 megawattsN/A
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