Energy Ministry, UkraineInvest sign memorandum of cooperation in energy sector

Acting Energy Minister of Ukraine Olha Buslavets and Executive Director of the state institution “Ukraine Investment Promotion Office” (UkraineInvest) Serhiy Tsivkach have signed a Memorandum of Cooperation in the energy sector, according to the Energy Ministry’s press service.

"As part of reforming the energy sector and transforming it into a ‘clean’, ‘green’, decarbonized sector of the economy, given the development of renewable energy sources, one of the main challenges today is the need for attracting significant investment," said Buslavets.

She noted that Ukraine's energy system needs new generating capacities.

Buslavets outlined possible key areas for further cooperation that include attraction of investments in a segment of technologies of highly maneuverable generation and energy accumulation systems, in particular, implementing energy storage projects; developing the hydrogen energy in Ukraine; restructuring of non-profit coal mines and transformation of coal regions across Ukraine, including with the participation of foreign partners.

During the meeting, the parties agreed that cooperation on attracting investment will create new opportunities in the energy sector of Ukraine.

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