Ukraine, which uses three times more energy per person than the average European Union member state, has prospects to increase its production of electricity and thermal energy from wind power, solar energy and water power.
Ukraine plans to dramatically increase the share of renewables in its energy mix from the current 3.8 percent to 11 percent by 2020, Deputy Regional Development Minister Roman Abramovsky said Thursday.
“Alternative energy market will be formed very quickly. We already have some companies, which are ready to produce and deliver thermal energy from renewables for the population,” Abramovsky was quoted as saying by the government’s press service.
He said the development of alternative energy will help Ukraine reduce its dependence on traditional energy resources, of which around 40 percent are supplied from abroad.
According to Ukraine’s State Agency for Energy Efficiency, the East European nation needs at least 15 billion euros (about 16.5 billion U.S. dollars) in investment to meet its 11 percent renewable energy target by 2020.