DTEK Renewables' generating companies started issuing guarantees of origin, which is an important step in Ukraine's move towards decarbonizing its economy and stimulating the development of the country's renewable energy sector in line with European principles and directives.
‘Ukraine has started the development of the market for guarantees of origin of electricity from renewable sources. We are confident that every year the interest of socially responsible businesses in guarantees of origin will only grow. As a result, this will increase the demand for electricity from renewable sources and stimulate the construction of new green energy facilities in the country,’
said Oleksandr Selyshchev, the CEO of DTEK Renewables.
Any business that is interested in labelling its goods as being produced from renewable sources and having a corresponding environmental value can be a buyer of green electricity (guarantees of origin). For export-oriented businesses, this will provide additional competitiveness to their products in the long run. In particular, in the EU market, where there are stricter environmental requirements for the types of energy sources from which products are made.
The government is also considering the option of stimulating domestic demand for guarantees of origin for companies that emit emissions. By purchasing guarantees of origin, they will be able to reduce the burden of paying the CO2 tax, as they reduce greenhouse gas emissions.
At the same time, the development of international trade in green energy and, as a result, the attraction of additional international investment in Ukraine requires the recognition of guarantees of origin issued in Ukraine at the EU level. For such recognition, the state must fulfil the relevant conditions of the roadmap expected from the EU.
For reference. Guarantee of Origin is generated in the relevant register automatically, based on certified data on commercial metering of electricity produced from renewables. Guarantees of origin are issued to renewables producers for the amount of electricity supplied to the grid. 1 MWh of electricity supplied to the grid from renewables = 1 guarantee of origin.
In Ukraine, the National Commission for State Regulation of Energy and Public Utilities is the authorized body for issuing, circulating and redeeming guarantees of origin.
