Wind Solar Energy

Ukraine Wind & Solar Energy Company

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Ukraine has excellent wind conditions, an abundance of available land for wind parks and a regulatory regime supportive of onshore projects.

Wind Solar Energy LLC (WSE) has assembled a 370 MW onshore wind park project portfolio in the Zhytomyr region of Ukraine.

On its full project portfolio WSE has completed long-term wind measurements, received all relevant permissions, and signed agreements with the Ukrainian authorities (pre-PPAs) to lock-in feed-in-tariffs until 2030.

The wind parks are very profitable, with forecast IRRs of 17-20%, and pay-back periods of 5-6 years, after which they will generate profits with low opex for a further 20+ years.

Ukraine - macro environment

Ukraine is the largest country in Europe by area, and with 42 million inhabitants the eighth largest country by population.

It possesses rich farmlands, a well-developed industrial base, a well-educated labour force, and substantial mineral resources.

In recent years, considerable Western support, including from the IMF, EBRD, US government agencies and EU institutions, has helped Ukraine to make significant reform progress, and to address the long-term challenges of underdeveloped infrastructure and institutions.

After a fall in GDP in 2014-15, the economy grew by 3.3% per annum in 2018 and 2019 and is forecast to grow by another 3.5% in 2020.

Reform progress

Tax reform

Anticorruption drive and improved transparency

Currency stability and reduction in inflation

Global Doing Business rank has improved from 152 in 2011 to 64 in 2019

Key macroeconomic indicators
2013 2014 2015 2016 2017 2018 2019
GDP growth (%) 0 -6.6 -9.8 2.4 2.5 3.3 3.3
Nominal GDP (US$bn) 180 132 91 93 112 131 150
Inward FDI (US$bn) 4.5 0.8 3.1 3.4 2.8 2.8 2.7
Inflation (CPI % av) -0.3 12.1 48.7 13.9 12.8 9.5 7.9
UAH/USD ex rate 8 11.9 21.8 25.7 26.5 27.3 23.7
Ukraine wind and solar energy market

The main form of state incentive and support for renewable energy in Ukraine has been the Green Tariff, a feed-in tariff (FiT) introduced in 2009 as a special preferential price for electricity produced from alternative energy sources and paid until 2030.


As a result of attractive FiT rates, onshore wind capacity increased from 88MW in 2009 to 1.2 GW in 2019, and solar capacity increased from 411MW in 2014 to 3.9GW in 2019.


The FiT is established at the date the energy plant is commissioned and runs until 1st January 2030. FiT is fixed in EUR and is recalculated quarterly based on the official EUR/UAH exchange rate set by the national bank, resulting in minimal currency risks.


The state wholesale electricity market purchaser Guaranteed Buyer is required to purchase renewable power before other forms of energy (nuclear, coal…).

FiT for wind energy in Ukraine (EUR/kWh)

Date of commissioning

Turbine power

> 2MW

2017-2019 0.0941
2020-2022 0.0882
FIT for solar energy in Ukraine (EUR/kWh)*
Date of commissioning Field mounted > 1MW
2017-2019 0.1277
2020 0.0788
2021 0.0435

*minimum FiT available

Wind energy installed capacity in Ukraine 2009-2019 (MW)
Wind energy installed capacity in Ukraine 2009-2019 (MW)
Solar energy installed capacity in Ukraine 2014-2019 (MW)
Solar energy installed capacity in Ukraine 2014-2019 (MW)

In December 2018, the Parliament (Verkhovna Rada) of Ukraine passed a “Law about Auctions” for the implementation of a new scheme for renewable energy producers based on auctions.

Date of implementation: 1 January 2020

Negotiations between the Ukrainian government and renewable energy suppliers in 2019-2020 which concluded in an agreement in June 2020 have established the FiT levels for 2020-2030.

FiTs are not available for projects where producers did not sign preliminary power purchase agreements (pre-PPAs) before 31 December 2019, and for projects that are commissioned after 31 December 2022. Tariff rates for these will be determined by auctions with winners chosen according to technical and price criteria.