Ivan Bondarchuk took part in Energy Week Black Sea 2023
On February 7-9, 2023, the international investment conference Energy Week Black Sea 2023 was held in Bucharest.
For the third time, the capital of Romaniа has become the center of discussions on the further energy development of the Black Sea region.
The war in Ukraine has exacerbated the issues of energy independence, the relevance of renewable energy and the creation of a regional electricity market. The Black Sea region has a huge potential for renewable energy, and thus should become a center of renewable generation.
The event was attended by delegates from Romania, Bulgaria, Ukraine, Moldova, Georgia, and Turkey. Representatives of the government, public and private energy companies, international financial institutions, investors, consulting companies joined the discussion.
The panel discussion “#STANDWITHUKRAINE Green Dream and Post-War Reconstruction of Ukraine” attracted special attention of the participants and did not leave them indifferent.
Members of the Ukrainian delegation spoke about the challenges faced by Ukraine’s renewable energy sector during the war and shared their vision of the post-war reconstruction of the Ukrainian energy sector.
In particular, Ivan Bondarchuk, counsel, head of the energy practice of LCF Law Group, specified four groups of measures aimed at developing renewable energy in Ukraine:
“First of all, we are talking about urgent measures that should be implemented immediately to preserve and rebuild existing projects, demonstrate the state’s responsibility to investors, and build confidence in the industry, which has suffered in recent years. These measures should include extending the technical conditions for grid connection and support mechanisms, creating conditions for the reconstruction of power plants affected by the war while maintaining the feed-in tariff, and ensuring conditions for financial stability and proper payments to RES producers.
Second, the legislation regulating the legal regime for investors in the sector should be finalized. The draft laws developed by the Ministry of Energy on contracts for difference, feed-in premiums, guarantees of origin, and a number of others should be considered and adopted by the Parliament.
Third, the TSO and policy makers should determine the strategic directions and needs of the industry development, taking into account the new realities, challenges and requirements of the power system. In turn, lawyers and regulatory experts in the energy sector should work on the implementation of EU legislation to ensure regulatory stability.
And fourth, and perhaps most important. Over the past year, Ukraine has proved that it is on the way to victory and is able to secure its independence. The energy sector has proven that it is able to maintain the functioning of the energy system, and the renewable energy industry has proven that it is ready to engage in a dialogue with the Government to maintain stability in the market. It is important that the international investment community continues to demonstrate interest and work on the development of projects in Ukraine, thereby increasing the motivation of local stakeholders and setting the agenda for policy makers.”
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