Ukraine

Population

43,400,000

Energy Trilemma Index

ACBd

Moody's (Credit Rating)

B3

Ease Of Doing Business

64

Overview

Ukraine is a democratic semi-presidential state in Eastern Europe with direct access to the Black Sea. It borders Russia, Belarus, Poland, Slovakia, Hungary, Romania, and Moldova. 

The country spreads across 603,549 km2 with a population of 43.4 million people and a capital city Kyiv. 

The Ukrainian renewable energy sector is rapidly developing, with a significant amount of RES added each year. It exploded in 2019 with 4,669 MW of renewable energy added to the grid. Since this time, the amount of energy produced by green means of production steadily increases. As of June 2021, 6,351 MW comes from solar power, 4,829 MW from hydropower, 933 MW from solar PV installed by households, and 1,593 MW from wind power. Without hydropower, the share of the rest of RES generation accounts for 8,65% of the country’s energy system. 

Ukraine is an emerging RES market that has largely untapped potential. Before 2019 RES were not a major part of the Ukrainian energy system. However, with the introduction of the support schemes, the market exploded and since then expanded significantly. Ukraine hydropower potential is 21.5 TWh annually. Wind power is projected to have 16-24 GW potential output, while solar is said to have around 4 GW1. 

The Ukrainian power grid is interconnected with all the neighbouring countries: Russia, Belarus, Poland, Slovakia, Hungary, Moldova, and Romania. Ukraine used to rely mostly on its electricity exchange with Russia, but since 2014, it had worked towards greater energy autonomy and integration in the European electricity market. In 2020 Ukraine was a net electricity exporter with 4,754.1 million kWh exported and 2,284.9 million kWh imported.  

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