LCF Law Group at the WindEnergy Hamburg 2026
From 22 to 25 September, Hamburg hosted WindEnergy Hamburg 2026, one of the world’s largest events for the wind energy industry, bringing together more than 43,000 participants from over 100 countries.
Ukraine was represented by a delegation of more than 100 participants from across the sector, including developers, equipment manufacturers, banks, investors, advisers and industry associations. LCF Law Group joined the delegation together with the Ukrainian Wind Energy Association (UWEA).
Over four days, Ivan Bondarchuk, First Deputy Chairman of the Board of UWEA, Partner and Head of Energy & Projects at LCF Law Group, met with Ukrainian and international market participants to discuss new projects, financing, investment opportunities and the plans of international companies in Ukraine.
A few observations from those conversations:
Interest in Ukraine is growing, but the path to investment remains long
International companies see significant potential in Ukraine’s wind energy sector, but there is still a considerable gap between initial interest and a final investment decision.
War-related and political risks, lengthy internal approval processes and the need for greater predictability all play a role. At the same time, complete certainty is increasingly difficult to achieve in any market. Companies need to assess and allocate risks, reflect them in project structures and make decisions once the available information is sufficient, even if it is not perfect.
While international capital continues to assess risks, Ukrainian projects are already securing financing
Ukrgasbank, Oschadbank and Ukreximbank are already financing wind energy projects. According to bank representatives, a typical financing amount for a single project currently stands at approximately €30–40 million. For larger projects, banks are working on syndicated lending structures.
Engagement with lenders should start well before a project reaches Ready-to-Build status. This allows financing requirements to be reflected in the corporate, contractual and financial structure from an early stage, rather than requiring the project to be restructured later.
International companies are already preparing to work in Ukraine
Among the participants were international developers, equipment manufacturers, service providers and investors that are already active in Ukraine or considering entering the market.
Their questions go beyond individual projects. Companies need to understand how to establish and finance a business in Ukraine, structure cross-border transactions, build a clear corporate framework and comply with regulatory and compliance requirements.
Wind + BESS are increasingly being developed as a single project
Two dedicated halls at WindEnergy Hamburg focused on energy storage. Manufacturers are increasingly presenting solutions in which wind generation and BESS are designed as an integrated system from the outset.
For Ukrainian projects, this combination can help reduce imbalances, make better use of available grid capacity, improve generation management and strengthen overall project resilience.
During WindEnergy Hamburg, LCF Law Group and UWEA also brought together representatives of the Ukrainian and international energy markets for a private evening reception, continuing discussions on Ukrainian projects, partnerships and investment beyond the exhibition floor.
Ukraine’s wind energy market continues to move forward despite the war. Projects are being developed, Ukrainian banks are providing financing, and international companies are exploring new opportunities. The next challenge is to shorten the path from interest to a concrete investment decision.
Thank you to UWEA and everyone we met in Hamburg. We return with new contacts, ideas and plans.
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