Businesses step up development of renewable energy sources in 2024 – expert

Following the war-related crisis of conventional generation, businesses intensified the development of renewable energy sources in 2024 compared to last year.

The relevant statement was made by Stanislav Ihnatiev, the founder of Kharkiv Energy Cluster, in a commentary to Ukrinform.

“First of all, those projects that were launched prior to the full-scale invasion are being completed. For example, the VR Energy’s wind farm project in the Dniester Estuary and EcoOptima’s Skolivska Wind Farm,” Ihnatiev told.

At the same time, non-core market players began to develop solar and wind energy projects. Among them, Ihnatiev mentioned OKKO, Epicentr and Nova Poshta, which created separate divisions for this purpose.

According to the expert, in the first half of 2024, businesses built 200 megawatts of solar energy generation facilities to meet their own needs.

“All of this, in general, indicates that the wartime crisis of conventional generation and power transmission systems has given a boost to businesses in terms of the development of renewable energy projects, whose construction and development pace stepped up compared to 2023,” Ihnatiev concluded.

A reminder that, on August 13, 2024, the Cabinet of Ministers of Ukraine approved the National Renewable Energy Action Plan to increase the share of renewable energy in gross final consumption to 27% by 2030.

The investment cost of the National Renewable Energy Action Plan was estimated at UAH 20 billion. The capacity of new green energy facilities is expected to reach 10 gigawatts.