DTEK, Ukraine’s largest energy group, is the latest organisation to join Climate Bond’s Partner Program.
The decision is a signal of their commitment to a low carbon transition. The partnership will help develop mechanisms to attract financing for green energy projects by opening up the Ukrainian green debt finance market and attracting private capital to fund key players’ climate ambitions in line with NDCs.
By 2020 Ukraine is going to increase electricity production from renewable energy sources by 7.4 billion kWh compared to today’s annual production to reach 9 billion kWh per year, in accordance with the Energy Strategy.
DTEK is the second Ukrainian company to partner with the Climate Bonds Initiative following BFSE.
Maxim Timchenko, CEO, DTEK, says: “Ukraine's energy sector tends to follow global trends. Development of various energy sources creates a stable platform for further evolution of the sector taking into account the need for capacity substitution. We always welcome innovations and new business areas. To encourage the use of renewable energy, we build wind and solar power plants. Thus, we contribute to the development of new Ukrainian energy: clean, efficient and competitive.”
Sean Kidney (pictured), CEO, Climate Bonds Initiative, says: “Policy makers, investors, asset managers and the wider community want to see more ‘brown to green’ financing and energy companies shifting generation towards clean sources. We are starting to see some global examples, but the pace must dramatically accelerate. Partnering with DTEK provides us with an opportunity to work with a major Eastern European company that has both brown and green assets and is looking at how to make that energy transition.”
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