Integration with ENTSO-E to open up extra prospects for development of 'green energy' in Ukraine – PM.

Prime Minister of Ukraine Denys Shmyhal has said that integration with the European Network of Transmission System Operators for Electricity (ENTSO-E) will open up additional prospects for the development of "green energy" in Ukraine.

"Ukraine seeks to adapt the best policies of the European Union, and for this, over the past one and a half years, the government has been actively introducing and developing the gas and electricity market, and is also actively preparing for integration with ENTSO-E in 2023," the government's press service said, citing Shmyhal.

The prime minister said that Ukraine is integrating the System Value approach of the World Economic Forum (WEF) into economic planning, in particular, within the framework of this approach, energy efficiency improvements, modernization of distribution networks and an increase in the share of renewable energy sources will become important factors.

"The System Value approach, developed by the WEF, defines a set of solutions that contribute to the sustainable development of economic and power systems. It allows for a better and more complete assessment of the economic, environmental, social and technological results of implementing solutions in the power sector. This tool will also be used for "green" modernization of the economy," the head of government said.

Shmyhal said that Ukraine has one of the most energy-intensive economies in Europe, and energy efficiency measures will help decarbonize Ukraine's economy, increase investment in the technology sector and create new jobs.

According to the head of government, integration with the ENTSO-E, which is scheduled for 2023, will open up broad prospects for the development of renewable energy sources in Ukraine, while increasing the stability of the Ukrainian and European power systems.

The prime minister expressed confidence that in the next report of the WEF Energy Transition Index, Ukraine will rank higher thanks to the active development of smart grids, hydrogen economy and power storage systems.

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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