Latest market news as of July 14, 2023

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 📌The Ministry of Economy, together with business and associations, will create sectoral working groups for the development of the investment plan for key sectors of the Ukrainian economy and the attraction of EUR 50 billion in aid from the European Commission

The Ministry of Economy of Ukraine, in collaboration with Ukrainian businesses, associations, and experts, will establish more than 10 industry working groups to discuss and formulate specific measures for the development of key sectors in the Ukrainian economy. This announcement was made by Yuliia Svyrydenko, the First Deputy Prime Minister of Ukraine and Minister of Economy, during a meeting with members of the Ukrainian business community.

These initiatives serve as the foundation for the Ukraine Facility (UF) Plan, supported by the European Union. Furthermore, according to Yuliia Svyrydenko, the engagement with the business sector will enable the development of sector-specific programs for the UF, along with business proposals for sectoral development strategies over a 10-year period, divided into three stages: short-term: 2023-2024; medium-term: 2025-2027; long-term: 2028-2033.

The formulation of the "Ukraine Plan" under the Ukraine Facility program will facilitate the attraction of 50 billion euros in aid from the European Commission, as announced during the Ukraine Recovery Conference.


 ✔️ The SE “Guaranteed Buyer” initiated the start of the corporatization procedure

The legislation on REMIT, which was adopted in July, opens the possibility to corporatize the “Guaranteed Buyer” (GB). Currently, GB is the only enterprise in the energy sector that has remained in state ownership status. In order to effectively support energy sector development and develop electricity exports, the company must meet international standards, become transparent and introduce relevant governance procedures. In accordance with the requirements of the Law of Ukraine “On Management of State-Owned Entities”, last week “Guaranteed Buyer” appealed to the Cabinet of Ministers of Ukraine with a proposal to start the procedure of transformation from a state-owned enterprise into a joint-stock company. The company hopes for the support of the government, key ministries and partners in the renewable energy sector.

The EUEA welcomes the beginning of the corporatization process of “Guaranteed Buyer” and emphasizes the importance of introducing corporate governance in the company. This will strengthen the company’s operations and open up new opportunities for the company, as well as contribute to the transparency of its activities and harmonize its work with European standards. Strengthening the trust of stakeholders, and increasing the company’s competitiveness in the energy market will be important results of this process. Details.


✍🏻Elementum Energy brought 20 MW of SPP to the market

Elementum Energy took to the market its 20 MW solar power plant in the Poltava Region on June 1  Forbes reports. The company will switch other power plants to work at market prices if the pilot project is successful, says the managing director of Elementum Energy, Olga Rybachuk.

The newly built Tyligul WPP DTEK entered the Ukrainian Energy Exchange on May 22 with an offer of €86.88/MW.


👉🏻Ukraine and Denmark start cooperation in the field of wind generation

The first stage, within the framework of the implementation of the joint Memorandum on the expansion of energy partnership in the field of wind generation, will include an accelerated study of the potential of Ukrainian offshore wind energy by the World Bank and the Denmark Technical University (DTU Wind) until September 2023. Ukraine will use the Danish experience in the reconstruction of the energy system. We are talking about both offshore and onshore, in particular to achieve the goals of decentralization of generation.


📌Ukraine can resume electricity exports to Slovakia

At its meeting, the Regulator agreed on the Procedure for the distribution of revenues from the management of restrictions between Transmission Systems Operators of Ukraine and Slovakia, provided by NPC "Ukrenergo". The approval of the specified Procedure between NPC Ukrenergo and the Slovak SEPS is an important prerequisite, which opens up the opportunity for export-import transactions with electricity through cross-border flow in the direction of Ukraine - Slovakia, notes NUERC.

According to the Commission, such a decision will also serve as an additional factor in stabilizing the energy system, as it creates conditions for the import of electricity from Slovakia during the deficit hours of the day and export to Slovakia during the hours when there is a surplus of electricity.

As a reminder, from April 21, 2023, the export was stopped at the initiative of the transmission system operator of Slovakia (SEPS).


✔️ The President's Office plans to solve the problem of debts to RES

The Office of the President of Ukraine plans to solve the problem of multibillion-dollar debts to renewable energy enterprises, writes RBC-Ukraine with reference to the deputy head of the OP Rostyslav Shurma.


✔️The Parliament adopted as a basis the draft law on the optimization of the structure of the GTSO

The Verkhovna Rada supported and adopted as a basis by 268 votes draft law №9311-1d on the optimization of the structure of the "Operator of the gas transportation system of Ukraine". The draft law defines the legal and organizational principles of the procedure for the transfer to the state in the person of the authorized corporate rights management body of a share in the authorized capital of LLC "Gas Transport System Operator of Ukraine", which is owned by JSC "Main Gas Pipelines of Ukraine". By the end of July 2023, the corporate rights of GTSO should be transferred to the Ministry of Energy from JSC "Main Gas Pipelines of Ukraine". Details.


🤝Zhytomyr launches a green CHP plant that will burn sorted garbage

One of the bio-CHP plants in Zhytomyr, which was planned to operate on wood chips, will switch to 50% refuse derived fuel (RDF) from the local waste processing plant, Deputy Mayor of Zhytomyr Serhii Kondratyuk said. According to him, at the suggestion of the city council, investors reworked the bio-CHP project, which will produce 20 MW of heat from wood chips (40 MW was planned) and 20 MW from RDF. In addition, its design capacity also includes the production of 10 MW of electricity. However, it is not yet known when exactly the waste processing plant will be able to produce the required volumes of RDF. During the plant’s test operation it became clear that it does not conform to the parameters specified during the design: 85% recycling and 15% returned to the landfill. Therefore, an additional purchase of equipment is planned to meet these parameters. At the same time, as the deputy mayor noted, the most likely reason for the deviations is the composition of the garbage, most of which is organic waste.


👉🏻The Ukrainian fleet of electric vehicles has tripled in 6 months

In the first half of 2023, 12,600 BEVs were added to the Ukrainian fleet, which is three times more than in the corresponding period of 2022. According to the data of the "Ukravtoprom" association, in January-June of this year, 2.8 thousand new electric cars were registered in Ukraine for the first time, and 9.8 thousand were used. The share of new cars in BEV registrations increased from 18% (in the first half of 2022) to 22%.


💲EUEA organized a networking event for Association members

We thank to everyone who found time and joined the tasting of Ukrainian wines from the "Biologist" craft winery. We were glad to see everyone!

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Sincerely,

EUEA Team
Dorogozhytska str., 3, UNIT City, building B9, office 5, Kyiv, Ukraine
Mobile (WhatsApp): +38 091 331 0010

mailto: office@euea-energyagency.org   

Established in November 2009, European-Ukrainian Energy Agency (EUEA) has grown into an effective advocate for the realization of Ukraine’s massive renewable energy and energy efficiency potential, by working within Ukraine’s business community, government structures, and with other key energy market stakeholders.

EUEAMembers: 

Acciona, Beycelik-Elawan Renewable Energy LLС, CES, DTEK Renewables, EMERGY AS, EMSOLT, Electrum, Elementum Energy, Eurocape Ukraine, Fichtner, Goldbeck Solar, GOLAW, Guris, Green Genius, Green Future, GrECo Ukraine, GSE&C, iC consulenten, IMEPOWER, Indian Solar, Investment Fund for Developing Countries, Irshanska SES, Khmelnytsky Bio Power Plant, NOTUS Energy, Scatec Solar,  Sfera, Sumitomo, SPP Development Ukraine, Thermosystems, TIU Canada, Ukrwindinvestments.


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