Ukraine has the technological capability to create 500-700 GW of capacities based on renewable energy (RES), on the basis of which to ensure the production of about 500 billion cubic meters (45 million tons) of fuel hydrogen.
This was stated by Minister of Finance Serhii Marchenko at the discussion panel of the IMF and World Bank Group Annual Spring Meetings.
"This is not only an effective way to use the growing generating capacities of renewable energy sources, but also the opportunity to use the existing infrastructure for transiting hydrocarbons for the needs of the new green economy without writing off investments over the past decades," Serhii Marchenko said.
Renewable energy sources (RES) are used for the production of "green" hydrogen. In Ukraine, this sector is experiencing rapid development, especially in the last three years. The RES share in the generation structure of Ukraine increased from 1.7% in 2018 to 7.7% in 2020. In 2020, the figure doubled.
One of the distinguishing features of RES is the generation instability. To balance the energy system, Ukraine needs to develop energy storage.
Context. The European Commission considers Ukraine as one of the partners in the production and transportation of hydrogen. According to the Green Hydrogen Recovery Report, 16.6 billion euros are allocated for the construction of wind and solar plants to produce "green" hydrogen.