Ukraine launched 742.5 MW of capacities generating energy from renewable sources in 2018 / Photo from UNIAN
Naftogaz sees great potential in sustainable energy sources.
Ukraine's gas giant NJSC Naftogaz of Ukraine has announced it will set up a renewables division.
"There will be a renewable energy division. We see great potential there," Naftogaz CEO Andriy Kobolyev said on television when answering a question about corporate diversification.
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The company will also create divisions of crude oil, natural gas, underground gas storage and transportation, he said.
In his words, the question of creating an energy efficiency division remains open. "We have not yet decided whether the energy efficiency division will be separate or it will be part of the natural gas division," he said.
As UNIAN reported, 742.5 MW of capacities generating energy from renewable sources were put into operation in Ukraine in 2018, which was 2.8 times higher than the capacity introduced for the previous year.
Feed-in tariffs remain a major incentive for the development of renewable energy in Ukraine, as such tariffs are higher than rates for other types of power plants.
UNIAN memo. NJSC Naftogaz of Ukraine is the largest state-run vertically integrated oil and gas holding whose subsidiaries account for about 90% of oil and gas production in Ukraine. Naftogaz develops oil and gas fields, produces crude oil and natural gas. Its core business is also transportation and trade in fuel through its own network of filling stations.