06 Jun 2024, 14:00
Benjamin Wehrmann

German renewables industry calls for sustainability fund to spur investments in Ukraine

Clean Energy Wire

The German renewable energy industry said it is ready to participate in the reconstruction of war-torn Ukraine’s energy infrastructure and has called for state support to guarantee funding for new wind turbines, solar panels and other installations. Ahead of the upcoming Ukraine Recovery Conference, starting on June 11th in Berlin, renewable industry lobby group BEE called for the creation of a national sustainability fund for Ukraine. The fund would grant support to renewable energy projects in the private sector, which is currently struggling to plan investments due to unclear demand and levels of support.

Germany and Ukraine have increased their cooperation on energy following Russia's destruction of Ukrainian energy infrastructure. “Germany’s renewables industry stands side by side with our partners in Ukraine,” said BEE head Simone Peter. She added that renewables could play an important role in making Ukraine more resilient and independent. Decentralised renewable power installations are less vulnerable to attacks and bear no risk of pollution or contamination in active war zones in comparison to fossil fuel or nuclear power plants, Peter argued. “Expanding renewable energy sources is the only way to safeguard Ukraine’s energy security in the long run,” she said. Besides international support, internal reforms are also needed to speed up energy infrastructure planning and provide for energy storage: “Laws and regulations are needed to establish viable business models,” she added. In May, the two countries agreed to focus on fixing and modernising existing infrastructure.

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