Oleksandr Riepkin took part in the Second German-Ukrainian Energy Day

The transition to a green economy requires both private and public funding. Mobilization of finance and business for the transformation of the energy system of Ukraine was discussed today within the framework of the Second German-Ukrainian Energy Day with the participation of President of the Energy Association "Ukrainian Hydrogen Council" Oleksandr Riepkin.

"To increase investor confidence, it is important for the country to adhere to its commitments because the deterioration of conditions for doing business in one area (as, for example, is currently the case in RES) affects the investment climate in general," - said the President of the Ukrainian Hydrogen Council.

He also noted that a key signal from the state for the development of the hydrogen market should be a coordinated National Hydrogen Strategy. It is important that currently two leading companies of Ukraine - NJSC "Naftogaz of Ukraine" and the GTS Operator of Ukraine - are ready to invest in this industry and conduct relevant research.

Summing up, Oleksandr Riepkin noted that among the main state initiatives should be a law on certificates of origin of hydrogen, which will allow Ukraine to become a full member of the market when we join the European energy system.

"The functioning of this mechanism can provide an answer to the question - where in Ukraine to get additional funds to pay companies that already operate at a green tariff, and how to stimulate the development of RES in general, because we have catastrophically slowed down this industry."

For reference: The German-Ukrainian Energy Day is a central annual event for German and Ukrainian stakeholders, which is held to discuss current issues, present the results, while providing a platform for public participation.

The main goal of this year's event was to align the key priorities of the Energy Partnership with the goals of COP26, in particular, to develop strategies and identify potential opportunities for their implementation, as well as to promote cooperation to implement measures to decarbonize energy systems in Germany and Ukraine.