Almost US$500 mln to be invested in Ukraine's alternative energy in 2018

Investment in Ukraine's renewable energy in 2018 is expected to grow by 25-30% from 2017, to US$460-480 million.

This forecast was given by Director of the Renewable Energy and Alternative Fuels Department of the State Agency on Energy Efficiency and Energy Saving of Ukraine Yuriy Shafarenko.

Read alsoU.S. company to supply 26 wind turbines to Ukraine's Prymorska WEP"The total investment in renewable energy in 2016 was about $300 million, and it was 23% more in 2017, reaching almost $370 million. The forecast for 2018 is plus 25-30%," he said in a comment to UNIAN.

Shafarenko added that an improved legislative framework had contributed to the increase in the investment.

As UNIAN reported, the State Agency on Energy Efficiency and Energy Saving reported in early October 2017 that Ukraine raised over EUR 700 million under alternative energy projects in 2014-2017.

Head of the agency, Serhiy Savchuk, announced on January 30, 2018, that his organization jointly with the Ministry for Foreign Affairs of Finland and the Nordic Environmental Finance Corporation would create a fund with EUR 6 million. The funds will be spent on alternative energy projects in Ukraine.