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Attraction of Arab investment in the energy sector of Ukraine was discussed in Kyiv

Fri, 27.09.2019 09:05



On Tuesday, September 24, the International Conference “Energy of Ukraine - an Effective Sphere of Attracting Investments” was held in Kiev, organized by the Association of Ukrainian and Arab Businessmen and Investors (AUABI) with support of the media portal “Ukraine in Arabic”.

The event was attended by owners, managers and representatives of the energy industry and the banking sector of Ukraine and the Arab world, experts in the energy sector, representatives of the scientific and academic community and everyone who is interested in the development of bioenergy and alternative energy supply of the country.

At the invitation of AUABI Chairman Mohammad Salim Alotti, a delegation of Arab investors arrived at the conference (Marouan Rasim Kamal, Ibrahim Jnahi and others), led by Mohammed Al Taani, Secretary General of the Commission on Renewable Energy of the Arab Republics (AREC).

 

Within the conference there were three discussion panels, on which the following relevant topics were discussed:

І. Consideration of alternative energy support programs in Ukraine.

The development of bioenergy in Ukraine: current status and prospects.

II. There are promising crops for biomass production in Ukraine. Effective biomass projects.

Presentation of the country's energy saving potential.

ІІІ. Credit support for energy efficiency.

AUABI Chairman Mohammad Salim Alotti addressed the guests with an opening speech. He thanked the guests for participating in the event, made a short excursion into the history of the alternative energy market of Ukraine and also spoke about the situation on the market today.

Mohammad Salim Alotti noted that over the past 25 years Ukraine has taken a leading position in the development of alternative energy among the former Soviet republics.

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According to the chairman of AUABI, in 2017 the green energy sector in Ukraine emerged from a recession to a new and more dynamic stage.

This is due to new plans developed by the Ukrainian government as part of the energy sector development strategy for 2035. They are aimed at achieving 25% of renewable energy sources by 2030. This is also due to the growing interest of local and foreign investors in renewable energy sources.

“Effective financing of green projects by state and international banks has contributed to improving the investment climate in this sector, especially after the adoption by the Verkhovna Rada of Ukraine in 2017 of special laws“ On the Electric Energy Market ”and“ On Environmental Impact Assessment ”, which played a positive role in this process, ”said Mohammad Salim Alotti.

He also emphasized that by 2018 the total installed capacity of wind energy production in Ukraine amounted to 594.07 MW, of which 506.26 MW - in the mainland of Ukraine. And in 2017, Ukraine was able to save about 455 thousand tons of coal due to the use of technologies for generating electricity through wind.

According to the chairman of AUABI, investor interest in projects in the field of green electricity generation depends on the legislative framework and legal mechanisms in place in the country. In this context, he asked the Ministry of Foreign Affairs to reconsider the issue of granting a Ukrainian visa to foreign investors and businessmen. The bureaucracy they are facing today impedes plans for success and development, and even damages Ukraine’s reputation and its economy.

 “Ukraine is famous for its modern and developed sector of renewable energy sources, not to mention the system of“ green ”tariffs associated with the hryvnia-euro exchange rate, which avoids fluctuations in the national currency. Ukraine also offers investors “green” attractive tariffs, the highest in Europe. And in accordance with the current legislation, the current “green” tariff is valid until January 2030, according to the contract for the sale of electricity, ”said Mohammad Salim Alotti.

Подводя итоги, он поблагодарил всех партнеров и участников конференции, а

Summing up, he thanked all partners and participants of the conference, and expressed his deep conviction that the future of mutually beneficial Ukrainian-Arab relations has unprecedented development prospects, and AUABI will make every effort to promote Ukrainian-Arab cooperation in the energy and other fields.

AREC Secretary General Mohammed Al Taani told the audience about what he is doing and what goals the organization he represents is setting for itself.

“AREC is a non-profit non-governmental Commission related to renewable energy in the Arab world. The organization was founded in 2011 in Amman (Jordan) and consists of a large number of members representing several Arab countries, its head is His Majesty Prince Assem bin Nayef, ”said Mohammed Al Taani.

According to him, in Arab countries, both consumers and managers at the level of state power are faced with various challenges in adopting renewable energy in the country's policy and legislative acts. The potentials and benefits of alternative energy are well recognized.

“The goal of AREC is to work to promote and promote a culture of using alternative energy and energy efficiency in all areas of life. Future investments in renewable energy and energy efficiency by 2035 in the Arab countries will reach more than $ 500 billion and $ 200 billion in Europe, ”Al Taani said.

The Ukrainian side was represented by Vladimir Stavnyuk, Andrei Gerus, Andrei Konechenkov, Rodion Morozov and many others.

Volodymyr Stavnyuk, chairman of the board of the State Innovation Financial and Credit Institution (Ministry of Economic Development, Trade and Agriculture of Ukraine), spoke about the reforms of Ukraine aimed at attracting Arab investors, and the program of President Vladimir Zelensky, which is given special attention today. Vladimir Stavnyuk was asked a lot of questions from company investors, he assured everyone that the Ukrainian state guarantees the security of their investments, and will contribute in every way to the elimination of bureaucratic obstacles.

Andrey Konechenkov, Chairman of the Board of the GS “Ukrainian Wind Energy Association”, Vice President of WWEA “World Wind Energy Association”, made a presentation on renewable wind energy and his company's promising projects for investors.

Many other Ukrainian and Arab business professionals in the field of renewable energy also spoke in a bid to find the best solution for today's challenges in the energy sector.

Source: Ukraine in Arabic 

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