China, Ukraine Agree to Deepen Cooperation in Clean Energy

Ukraine which relies heavily on imported energy and sees a huge potential in its renewable energy cooperation with China.

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China and Ukraine have agreed to increase their cooperation in renewable energy, the Ukrainian government said. Both the countries reached the agreement during the plenary meeting of the Chinese-Ukrainian Subcommittee on Trade and Economic Cooperation in Beijing, according to a statement by Ukrainian government press service.

Ukraine’s renewable energy market has become even more important with the steep increase in gas price and the adoption of green-tariff price incentives for electricity from renewable energy sources.

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According to the statement, the country relies heavily on imported energy and sees a huge potential in its renewable energy cooperation with China. "China is the world leader in renewable energy capacity expansion. It influences the global trends of the clean energy development,” it said.

Ukraine is interested particularly in implementing mutual investment projects with China, creating joint factories for the production of equipment and materials for renewable energy facilities, and generating financing mechanisms for clean energy projects, the statement said.

In 2017, the Ukrainian government has developed the country's "Energy Strategy," setting the target to increase the share of the renewables in the energy mix to 25 per cent by 2035 from the current four percent.

Source: IANS