The International Renewable Energy Agency - IRENA and the Energy Community Secretariat today signed a Letter of Intent, expressing their intention to closely work together in support of sustainable energy initiatives in Ukraine.  

The Ukraine Energy Support Fund, initiated in April 2022 through an agreement between the European Commission and Ukraine’s Ministry of Energy, is managed by the Energy Community Secretariat and has already mobilized nearly 500 million euros from various contributors. Under today’s Letter of Intent, IRENA will utilize its expertise in renewable energy technologies and intends to explore project proposals submitted within the framework of the Ukraine Energy Support Fund for subsequent funding consideration by ETAF Partners. Through its project facilitation work, the Energy Transition Accelerator Financing (ETAF) and Climate Investment (CIP) platforms, IRENA has built up a network of diverse financiers, such as MDBs, DFIs and commercial banks, looking to invest in energy transition projects in its Members, including in Ukraine.

Francesco La Camera, Director-General of IRENA, stated, “This cooperation enables us to apply our resources and expertise where they are most needed, accelerating the transition to sustainable energy in Ukraine.” Artur Lorkowski, Director of the Energy Community Secretariat, added, “Our collaboration with IRENA is a significant step towards incorporating renewable solutions into Ukraine’s energy resilience efforts. This partnership is crucial for de-risking private investments in large-scale renewable projects amid the war.”

The partnership will proceed with detailed negotiations to finalize terms under which projects will be proposed, assessed, and funded, ensuring transparency and adherence to best practices.