INTEGRITES’ partner Oleh Zahnitko spoke at the round table “Investment attractiveness of balancing renewables in Ukraine”

“There are two legislative ways to support generating capacity in the electricity sector – modernization of the CHPPs and construction of a new generating capacity (demand response measures). To attract capital in the new flexible generation, the first mechanism should include CHPP’s technical refitting and/or installation of new units that go in synergy with the installed facilities. Construction of a new generating capacity should be ensured through guarantees for investors as well as filters for abuse of the procedure by bidders. Taken together, these steps should help to ensure consistent supply of electricity”, – Oleh Zahnitko, partner and head of the Banking & Finance practice of INTEGRITES, commented during his presentation at the Round Table «Investment attractiveness of balancing RES in Ukraine». The event was held by the European-Ukrainian Energy Agency on July 23 in Kyiv.

Participants discussed:

– balancing and development of the power system of Ukraine;

– investment attractiveness of various balancing technologies;

– legislative mechanisms for supporting investments in balancing capacities and their role in the further development of RES production;

– integration of RES producers into the grid.

The event was attended by key market players, representatives of the government, financial institutions, diplomatic missions of Austria, Kazakhstan, Norway, Finland and other stakeholders in the electricity sector reform. The goal of the discussion was to share the local experience and to implement the better policies for attracting investment into balancing capacities using legal and market instruments.

*Oleh Zahnitko is a partner of Banking and Finance practice at INTEGRITES. He focuses on foreign exchange regulation, corporate finance projects, the implementation of a compliance system in financial institutions. Having considerable experience in project* management, he is actively involved in the development of legislation related to investments in the Ukraine’s energy sector. 

The European-Ukrainian Energy Agency is an independent non-profit organization founded in 2009, which brings together key participants in the energy and renewable energy market and contributes to the sustainable development of the economic, political and technological environment in Ukraine. Among its priority areas of activity are energy efficiency, bioenergy, wind, and solar energy, smart grids, project financing, and the Energy Community Treaty.