Ukraine initiating talks with Germany on advance payment for 'green' hydrogen.

Acting Minister of Energy of Ukraine Yuriy Vitrenko within the framework of cooperation in the hydrogen economy being discussed with Germany will propose to consider the possibility of advancing the transportation or export of "green" hydrogen from Ukraine to Germany.

"We would like to consider the possibility of structuring the relevant contracts, which provide for advance payments for "green" hydrogen by Germany," the press service of the Ministry of Energy reported, quoting Vitrenko as saying during a video conference with representatives of the German Federal Ministry for Economic Affairs and Energy.

According to the acting minister, with the help of the advance funds Ukraine will be able to finance the development of green and hydropower, which replaces coal generation.

"We need to move from investing in coal generation to investing in renewable sources, energy storage systems, and the latest technologies. This will allow Ukraine to get rid of coal dependence," Vitrenko said.

According to experts, the transportation of hydrogen could also be an alternative to gas transit, the volume of which may still fall after the completion of the contract with Gazprom in 2025.

The participants of the meeting, led by Prime Minister Denys Shmyhal, also discussed cooperation with the German society on the project of transformation of coal regions, which will be implemented with the support of the German government.

"It is important that today, during the meeting with German partners, the prime minister for the first time announced specific dates for Ukraine's refusal to use coal. We are considering several scenarios of phasing out," Deputy Energy Minister Yaroslav Demchenkov said.

According to him, the first scenario involves a gradual phasing out by 2040. It is possible provided that Ukraine receives international financial support for the process of physical closure of mines, integration of Ukrainian and European power markets and implementation of investment projects to replace thermal coal generation with climate-neutral facilities.

"Another scenario – pessimistic – is the abandonment of coal consumption by 2070. We must strengthen international cooperation and make a technological leap to achieve the goal by 2040 and become a climate-neutral country by 2050," he said.

Interfax-Ukraine

News about recent political developments in Ukraine, key Ukrainian economic news and major current events in the CIS and the rest of the world.

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