REUTERS
The national renewable energy action plan until 2020 was approved in 2014.
CEO of Ukrainian-based Rengy Development, Narek Harutyunyan, says Ukraine may fulfill its Energy Strategy in 2020 having achieved an 11% share of electricity generation from renewable energy sources, but at the same time, Ukraine could face a shortage of funds to pay investors by the so-called "green", or feed-in, tariff.
"This year, taking into account large-scale hydropower plants, generation from renewables will reach 9%, and I believe it will be 11% next year. This is good news. However, the bad news is that there will be a shortage of funds to pay the 'green tariff'," he said at a roundtable discussion on the renewable energy market arranged by the European Business Association on Oct 29.
According to the CEO, renewable energy facilities of 5.7 GW will have been built by the end of 2019. Therefore, Ukraine will need to find an additional UAH 16 billion (US$637 million) to retain balance.
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As UNIAN reported earlier, on October 1, 2014, Ukraine's Cabinet of Ministers approved the national renewable energy action plan until 2020, which provides for an increase in the share of renewables in the total electricity generation balance from about 1% to 11%, and up to 25% in 2035.
The main incentive for renewable generation in Ukraine is the so-called "green", or feed-in, tariff, which is higher than those for other types of generation.