The Energy Community Secretariat and the International Renewable Energy Agency (IRENA) signed a Letter of Intent, during the Ukraine Recovery Conference in Berlin, to work closely together in support of sustainable energy initiatives in Ukraine.
IRENA will utilise its expertise in renewable energy technologies and intends to submit project proposals for funding consideration by the Energy Transition Accelerator Financing (ETAF) Partners within the framework of the Ukraine Energy Support Fund.
“Our collaboration with IRENA is a significant step towards incorporating renewable solutions into Ukraine’s energy resilience efforts,” said Artur Lorkowski, Director of the Energy Community Secretariat. “This partnership is crucial for de-risking private investments in large-scale renewable projects amid the war.”
“This cooperation enables us to apply our resources and expertise where they are most needed, accelerating the transition to sustainable energy in Ukraine,” added Francesco La Camera, Director-General of IRENA.
The Ukraine Energy Support Fund, initiated in April 2022 through an agreement between the European Commission and Ukraine’s Ministry of Energy, is managed by the Energy Community Secretariat and has already mobilized nearly 500 million euros from various contributors.
The collaboration between IRENA and the Energy Community Secretariat was also acknowledged by the G7+ Energy Coordination Group at the conference for its potential to encourage green capital mobilisation and facilitate and de-risking investments in renewable energy projects in Ukraine.