The European Green Deal – Ukraine and Emergy
Located at the crossroads of Europe and Asia, Ukraine has significant natural resources including renewable energy potential. With a population of 44 million and high energy consumption, Ukraine is the 10th largest energy market in Europe. At the same time, its domestic energy production covers only 65% of total energy demand, making the country reliant on energy imports. While 100% of the Ukrainian population has access to electricity, renewable energy accounts for 6.9% of the total energy consumption. Emergy is one of the biggest investors in renewable energy in Ukraine just started to operate the 246,5MW Syvash wind farm together with its partner, Total Eren. Emergy is on the brink of starting construction of the 337.5MW Zophia wind farm. In total these wind farms will give more than 1 000 000 households the possibility of renewable energy and save 1 585 000-ton CO2 emission every year. And – we have more in the pipeline. In Ukraine, and in other southeast European countries.
How does our project influence Ukraine and it`s contribution to create a climate neutral European continent under the Paris Agreement, the UN Sustainable Development Goals 2030 and the EU-Ukraine Association Agreement?
Last week the European Commission adopted a package of proposals to make the EU`s climate, energy, land use, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2040, compared to 1990 levels.
The proposals will enable the necessary acceleration of greenhouse gas emission reductions in the next decade. 30% of the energy needed in Ukraine could come from wind. As the cheapest renewable solution to be build (LCOE, levelized cost of energy) and with a short construction time it would be very interesting for Ukraine to strengthen wind as an asset in their new energy mix. When EU now set focus on the tax of carbon that means that products that are produced with not renewable energy will be more expensive, a lot more expensive. The indication for the price of 1 000tCO2 is around 100-110$. AS of today, Ukraine has the lowest carbon tax in the world at 0.40 USD (March 2020). 2.5 times lower than in Poland, and 315 times lower than Denmark. At the same time, EU is Ukraine’s largest trading partner, accounting for more than 40% of its trade in 2019 equal 19.1bn. If EU imposes the tax for CO2 as suggested, Ukraine will see a 250 times rise and will notice this in their export numbers / prices. To be prepared, and secure people and workplaces – the possibility to buy renewable energy must be possible.
It is the future.
The sustainable future
Emergy is making sustainable stories by contributing building wind farms!