Ukrainian renewables market welcomes the first rating of solar energy developers

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More than 70 players of Ukrainian renewable energy market have attended the presentation of the first solar energy contractors rating, created by the GetMarket platform. The event took place in late September and became an important event in the industry.

Representatives of investors, consulting, legal and audit companies, financial institutions, business associations, regulators, rating members, and numerous journalists - visited CMS Cameron McKenna's office where the presentation took place. Part of the agenda was devoted to discussion of the challenges and opportunities in green energy, primarily issues related to investing in RES projects. In addition to presenting the ratings results, key companies in the market presented their vision of the current situation in renewable energy and the future prospects of the industry.

 

 

Andriy Olenyuk, a partner at Everlegal Natural resources and Energy Practice, identified three key risk factors for an investor. The main one is the status of the land, the "pure" legal history of changes in this status, the environmental assessment and consideration of all possible impact ways of the project. The second, but no less significant, is unpredictable time of the grid connection and the risks of grid capacity. And the third is obtaining permits, timing and interaction with authorities.

Yuriy Podolyak, CEO of IKNET, shared his views on the problems and prospects of connecting renewable energy projects to the grid. He spoke about the uneven regional distribution of green and traditional energy generation, as well as consumption across the country, which is why the southern and western sunny regions have huge overgeneration. Thus, the grid is not ready to cope with these volumes of generation. However, some eastern, central, and northern regions have a good potential for development, but are still less interesting for investors.

Vitaliy Radchenko, Partner at CMS Cameron McKenna, spoke about the mistakes that companies can make in the process of project development in Ukraine. Most often, they concern the land plot: incorrect site plans, hidden conflicts with plans of the local community, or historical and cultural status. Disregarded natural factors such as flora, fauna, water resources, especially soil, can also negate a project that seemed successful.

Maksym Sysoiev, Advisor to Dentons, described his views on legislative prospects for renewable energy sector. According to him, the legislation regulating the energy storage projects, which can be adopted in 2020-2021, will be essential for solving the problem of balancing electricity grid, and will also stimulate a new market segment.

Alexander Baskov, Head of Sustainability Services at Baker Tilly, spoke about the history of consultants joining and creating the GetMarket platform, and expectations of this project by the market. According to him, the need has been present for a long time, because the RES market is promising and growing, and interesting for external investors. All stakeholders are interested in consolidating and creating transparent market conditions. And for investors, it is a good opportunity to find one spot to get the complex of services needed to start a RES project.

In addition to these speakers, Konstantin Petrykovets, Director at the Guaranteed Buyer, spoke at the event, and shared the latest information on the company's operations and the state of financial settlements with market participants. Rodion Morozov, Head of the environmental department at Ukrgasbank, shared the bank's experience in financing energy projects and the importance of a reliable partnership for the successful development of the industry. Representative of a major investor UDP Renewables Andrii Bantser shared his real-life experience with the cases implemented in Ukraine and outlined the prospects and trends.

At the end of the event, the results of the rating were presented, which were also published on the platform's website at https://getmarket.com.ua/en/rating. The event ended with the networking between participants. In their opinion, being able to meet with leading market players and consultants, establish contacts is no less important than getting valuable insider information from the speeches.

Maksym Babaiev, coordinator of the GetMarket platform: “The presentation of the ratings gathered the full venue, and we are very glad about that. This is a sign that renewable energy market participants really need more quality and objective information about it. This rating of solar industry contractors is the first in Ukraine, but we are focused on continuous updating and expanding it. And we look forward to working with all interested companies."