Liberalization of energy prices is needed to unlock $97 billion in energy investments – IFC
Liberalization of energy prices in Ukraine will unlock additional investment opportunities for the private sector worth $97 billion.
This was stated by Ines Rocha, Regional Director for Europe at the International Finance Corporation (IFC).
"Reforms in the energy sector, including energy price liberalization, are key as they can unlock additional private sector investment opportunities worth $97 billion," she said.
Rocha added that since the start of the full-scale invasion, Ukraine has lost 19 out of 40 GW of capacity. And private investors could meet a significant share of the reconstruction needs with the right reforms and policies.
"Renewable energy, in particular, offers significant opportunities. IFC is actively working on near-term opportunities to stimulate the development of alternative business models, and is also preparing for medium-term expansion, provided that key reforms are adopted," she emphasized.
In conclusion, she added that by overcoming the challenges and seizing the opportunities in the renewable energy sector, Ukraine can achieve greater energy security, build resilience, and improve environmental sustainability.
Earlier, Ukrenergo CEO Volodymyr Kudrytskyi said that green and distributed energy could compensate for the destroyed capacities in two to three years.
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