How the Ukrainian Hydrogen Council is planning to develop green hydrogen in partnership with the Bureau of Investment Programs
The Energy Association «Ukrainian Hydrogen Council» will develop strategies for the promotion of green hydrogen energy and the introduction of hydrogen technologies in the energy market of Ukraine in partnership with the Bureau of Investment Programs. The organizations agreed on this within the signing of the Memorandum of Partnership and Cooperation.
“Currently, Ukraine has the opportunity to become a partner in the European green hydrogen market. After all, Germany has chosen Ukraine as one of the partners for the implementation of its energy strategy until 2050, namely the full transition of industry to green hydrogen. And it is ready to undertake up to 50% of financing for the construction of plants for the production of green hydrogen, - said head of the Bureau of Investment Programs Oleksandr Bondarenko regarding the prospects of hydrogen energy entrepreneurship. - Investments in the construction of a plant for the production of green hydrogen can average from $ 20 to $ 30 million. So for Ukrainian entrepreneurs this is a good opportunity to get additional funding and enter the European market with this product. Therefore, together with our partner the "Ukrainian Hydrogen Council" we will create analytical products and develop a community for the launch of the entire green hydrogen industry in the economy of Ukraine. After all, Ukraine has the potential to build about 300 plants for the production of green hydrogen and become a major exporter to Germany.
Obviously, in a situation where Ukraine is on the verge of an energy crisis, one way or another, the issue of cheap alternative energy sources is becoming critical. And now it needs to consolidate all potential players and think tanks of the energy sector, which would create and implement a strategy for the use of hydrogen technologies.
“A year ago, Europe made hydrogen energy one of its priorities and adopted the EU Hydrogen Strategy. Analysts estimate that in 30 years the green hydrogen market could grow from 70 million tons per year to 800 million tons per year. And the annual profit is more than 1 trillion euros and an annual emission reduction of 15%. - noted the President of the Energy Association «Ukrainian Hydrogen Council» Oleksandr Riepkin. - At present, Ukraine has the opportunity to become a hydrogen hub and the main exporter of green hydrogen. As a country that has signed a Memorandum on a New Energy Partnership, Ukraine must receive from Germany between 300 and 500 million euros for the development of hydrogen energy. But we need to create conditions for this industry. Therefore, together with the Bureau of Investment Programs, we will promote the introduction of hydrogen technologies in the Ukrainian energy market and develop partnership projects in the field of hydrogen technologies between representatives of the electricity sector of Ukraine, the European Union, the United States and other countries.
For reference:
Bureau of Investment Programs (BIP): a non-governmental organization whose goal is to combine public partnership and private investors to build infrastructure, attract investment and create safe conditions for investors to work in the Ukrainian market.
The BIP team: prepares the analysis of the investment potential of Ukraine; engaged in the development of investment programs in the field of green energy, infrastructure, production in Ukraine; provides strategy development and support for investment projects in the field of renewable energy, promotes green energy projects, in particular, green hydrogen; develops and supports legislative initiatives to improve regional infrastructure, ie helps to improve the quality of life of people in line with European standards.