Shmyhal: Synchronization with ENTSO-E to contribute to development of green energy in Ukraine

Prime Minister Denys Shmyhal made a corresponding statement during a round table on energy in Ukraine organized by the World Economic Forum (WEF) on June 3, Ukrinform reports with reference to the Government portal.

Shmyhal stressed that synchronization with the ENTSO-E, which is planned for 2023, would open wide prospects for the development of renewable energy sources in Ukraine while increasing the stability of Ukrainian and European energy systems.

The Prime Minister expressed confidence that Ukraine would have a higher ranking in the next WEF Energy Transition Index due to the active development of smart grids, hydrogen economy, and energy storage systems.

He also noted that Ukraine sought to adapt the best policies of the European Union. For this purpose, the Government has been actively implementing and developing the gas and electricity market, as well as intensively preparing for synchronization with the ENTSO-E over the past year and a half.

The Head of Government stressed that Ukraine integrated the approach of the World Economic Forum’s System Value into economic planning. In particular, energy efficiency, modernization of distribution networks, and increased share of renewable energy sources will be important factors within this approach.

“The System Value approach shaped by the WEF defines a set of solutions that contribute to the sustainable development of economic and energy systems. It allows for a better and more complete assessment of economic, environmental, social, and technological results of the implementation of solutions in the field of energy. This tool will also be used for green modernization of the economy," the Prime Minister underscored.

Denys Shmyhal thanked the WEF for confirming Ukraine’s consistent progress on the path to energy transformation in the 2021 Energy Transition Index (ETI).

The Prime Minister also informed about the steps that can boost Ukraine's further progress in this direction.

According to the PM, Ukraine has one of the most energy-intensive economies in Europe, and energy efficiency measures will help decarbonize Ukraine’s economy, increase investment in the technology sector and create new jobs.

As Shmyhal stressed, according to the WEF analysis, investments in the modernization of distribution networks are also an effective instrument for creating new jobs.

"Distribution Network Modernization in Ukraine will improve the quality of electricity supply, reduce losses in the networks and, as a result, reduce greenhouse gas emissions. Last year, we launched a mechanism that enables us to take a systematic approach to upgrade electricity networks and make it easier to connect to them," said the Prime Minister.

As noted, the share of renewable energy sources in the structure of energy generation in Ukraine has increased from 1.7% in 2018 to 7.7% in 2020.

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