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New green investment initiative in Ukraine

by dbdh

On the 23rd of November, the Danish-Ukrainian cooperation on energy presented an investment website for renewable energy and energy efficiency projects in Ukraine. This occurred on a high-level event arranged by the State Agency on Energy Efficiency and Energy Saving of Ukraine with participation from e.g. the Ukrainian Deputy Prime Minister and the Danish ambassador Ruben Madsen.

Ukraine has a great focus on attracting investments to projects related to renewable energy and energy efficiency both on a national and regional level. The Danish-Ukrainian Energy Center (UDEC) has naturally focused on this as well in the joint projects completed with Ministry for Energy and Coal Industry of Ukraine (MoECI) and State Agency on Energy Efficiency and Energy Saving of Ukraine (SAEE).

Through the past few months, the Danish Energy Agency (DEA) has contributed to the development of an investment website that allows the high number of profitable energy projects in Ukraine to be more visible. The website has been developed in cooperation with other donors, and was presented on SAEE’s annual high-level meeting – International Investments Business Forum – under the headline “Renewable Energy and Energy Efficient Modernization of Industry”.

The goal of the website is to gather projects and cases within wind energy, district heating and energy efficiency on a united IT-platform with a presentation of relevant technical and economic data. It is meant to be used as a display window to attract especially international investors like IFU, Danida Business Finance, EBRD etc. and energy technology companies.

Some of the background on developing the website is:

  • Desktop research, where Danish and Ukrainian advisors have analyzed challenges and opportunities for the Ukrainian website as well as which stakeholders and target groups that are relevant.
  • Interviews and field study in order to gather inspiration and knowledge from relevant partners, for example from the Ukrainian-Danish Energy Centre (UDEC), SAEE and the Danish Embassy as well as other commercial investment websites (for example Dealflow), potential Danish business partners (NEFCO, IFU, DBDH, producers) and the current investors in energy efficiency and renewable energy in Ukraine and comparable countries.
  • The website was well received on the high-level event arranged by SAEE that had a particular focus on renewable energy and energy efficiency in the industry. Both top-level representatives from the Ukrainian authorities, districts, delegates and municipalities as well as the energy branch and international investors participated.


  • The DEA’s technical advice to Ukraine is given through the Ukrainian Danish Energy Centre (UDEC), established in 2015. The DEA expects to continue the Danish-Ukrainian cooperation with MoECI, SAEE and others, in 2018-2020 under the UDEC II that was approved by the Danish Council for Development Policy on October the 26th 2017.
  • The budget for the Ukrainian-Danish cooperation on energy is 15 million DKK in the period 2013-2017 and is expected to be 20 million DKK between 2018-2020.
  • The partnership of the two countries focuses on technical advice in energy planning (at national and regional level), modeling of possible development scenarios for the transition from fossil energy to renewable energy, integration of wind and solar in the energy system, energy efficiency in the industry – with a special focus on the possibility of implementing a voluntary agreement, with inspiration from the Danish model, for energy intensive industries.


Source: Danish Energy Agency