/6th February 2013, RENEWABLE MARKET WATCHTM/
Cumulative installed PV capacity in Ukraine was only 3 MWp in 2010, but grew up to 140 MWp in 2011 and exceeded 320 MWp in 2012, making the country one of the fastest-growing photovoltaic markets in the region according to Ukraine Photovoltaic Market: Outlook 2013 - 2018
The primary RES objective of Ukraine is to ensure compliance with the mandatory renewable energy target of the Energy Strategy of Ukraine to 2030. In the case of Ukraine, this target was set at the level of 10 % of the total energy generation capacity. Ukraine is one of the most energy inefficient countries in the region according to Ukraine Photovoltaic Market: Outlook 2013 - 2018 and restructuring and upgrading its energy sector continues to be one of the key development challenges for the Government.
In the last few years, Ukraine has attracted investors’ interest. External investors have been attracted by the rapidly developing national industry, highly skilled workforce, and a significant new market. Now, in the present situation, with the world financial and economic crises, the macroeconomic framework of Ukraine remains relatively stable for entry of investments. The Ukrainian government is taking steps and trying to elaborate good measures to meet the challenges of the global economic crises, to maintain Ukrainian financial and macroeconomic stability, and to improve the business climate.
According to EBRD, Ukraine appears to be ready to become a leader in Europe’s clean energy economy soon, especially with regard to the solar energy market which seems to be one of the most perspective markets of renewable energy. Currently, Ukraine became a host for some of the biggest solar PV power plants in the world. It is projected that the solar energy market of the country will grow by 90% annually until 2015. More information about this promising market you may read here: Ukraine Photovoltaic Market: Outlook 2013 - 2018