Ukraine to replace Russian fossil fuels with clean energy

After peace has been restored, Ukraine will be able to replace dirty fossil fuels from Russia with clean energy and to supply green electricity to EU countries.

Source: the address of the President of Ukraine, Volodymyr Zelenskyy, to attendees of the Bloomberg New Economy Forum on 17 November; President’s Office of Ukraine

Quote: "Already now, by joining the reconstruction of Ukraine, various countries and companies are receiving incentives for growth. But when we restore territorial integrity and guarantee reliable peace, Ukraine will become a powerful source of new global development. And this is not just about the economy. It’s about a modern economy."

Details: Zelenskyy noted that right now, instead of paying maximum attention to the green transformation, various governments are looking for ways to guarantee cheaper supplies of oil, gas and coal in order to keep energy prices down.

According to Zelenskyy, "it is the price of energy, not how clean the energy is, that is the number one issue for many. And it wouldn't be like that if it weren't for Russian aggression, and Russia's use of energy resources as a weapon."

Quote: "Ukraine is able to replace dirty fossil fuels from Russia with clean energy. We have huge potential in low-carbon energy. Ukraine is capable of becoming a key partner of the European Union for the purposes of decarbonisation.

We will become one of the main suppliers of green hydrogen and green electricity in the EU.

Climatic conditions in Ukraine, free space, solar energy and wind energy will allow the production of green electricity at a very competitive cost."

Details: Zelenskyy recalled that just three years before the Russian invasion, [facilities capable of generating] 7 gigawatts of renewable energy were built in Ukraine, and  "the potential is many times greater".

Plus, Ukraine can produce tens of millions of tonnes of low-cost green ammonia, he added.

In addition, Ukraine has strong positions in bioenergy, the President added. 

Furthermore, Ukraine has a powerful nuclear and energy infrastructure which is integrated with the energy grid of the European Union.

"Now, the Russian missile terror is targeted primarily at these facilities. Only the day before yesterday, Russia fired almost a hundred missiles on our energy facilities in one day. Almost a hundred! Today [they are doing it] again," added Zelenskyy.

He admitted that the "losses are great", but the reconstruction will be large-scale as well.

Zelenskyy invited countries and companies to "assess the prospects" now and join the reconstruction of Ukraine.

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