Ukraine Aims to Become Major Green Hydrogen Exporter to EU, Seeks $10 Billion Investment for Renewable Energy Expansion
Ukraine aims to become a leading exporter of green hydrogen to the European Union, leveraging its geographic position and significant renewable energy potential, stated Energy Minister Herman Galushchenko.
In the aftermath of the war, renewable energy will play a pivotal role in Ukraine’s reconstruction. The country’s Energy Strategy adopted last year has set a green trajectory, targeting at least 25% renewable energy in its energy mix by 2030, and achieving climate neutrality by 2050.
According to the Institute of Renewable Energy of the National Academy of Sciences of Ukraine, the country has the potential to create renewable energy generation of up to 770.7 GW, utilizing only 0.27% of its territory, which amounts to 64% of the size of Luxembourg. The potential annual production of renewable hydrogen could reach 44.96 million tons.
Before the war, Ukraine had over 10 GW of renewable energy capacity, which has since decreased to 6.5 GW due to the ongoing conflict, with many facilities located in occupied regions or areas of active combat. Despite these challenges, renewable energy accounted for about 10% of the country's electricity mix in 2023, with an addition of 650 MW of new renewable capacity built between 2022 and 2023.
In March 2024, the Ukrainian government approved regulations to encourage investment in renewable energy and to establish a system for issuing, trading, and canceling guarantees of origin for electricity produced from renewable sources.
By 2050, Ukraine plans to expand its capacity to 140 GW in wind generation, 94 GW in solar, 38 GW in energy storage, 30 GW in nuclear power, 18 GW in thermal and bioenergy capacities, and 9 GW in hydro generation.
Besides electricity generation from wind and solar, significant prospects lie in the production of renewable gases such as biomethane and green hydrogen, which could become crucial components in the energy transformation of Ukraine and the European Union.
The Ministry of Energy of Ukraine estimates that achieving these goals will require at least $10 billion in investments.
