Ukraine approves $20 billion plan to increase renewable energy by 2030

The government of Ukraine said that Ukraine needs to invest $20 billion to develop the renewable energy sector. This is part of a plan to increase the share of renewables in the country's mix by 2030.

As a result, the country's energy sector lost half its generating power as a direct result of Russian drone and missile attacks. These increased in spring 2024. This forced it to rely solely on nuclear plants, solar, and wind generation.

The government approved a plan that aims to add approximately 10,000 megawatts of new generation equipment.

According to the government, by 2030, renewable energy should account for 33% of heat and cold systems, 29% in electricity generation and 17% in transport.

The report did not specify the share of renewables currently in the mix. Local media reported it to be 10%.

The government said that it will also announce several tenders to build new generators with capacities ranging from 5 to 80 Megawatts, and 700 megawatts. The new facilities will be operational by 2027.

The nuclear power plants of Ukraine are the country's main source of low carbon energy. However, they have been the subject of safety concerns during the war against Russia. (Reporting and editing by Emelia Sithole Matarise; Pavel Polityuk)

(source: Reuters)