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Over recent years, the ways we generate, store, supply, monitor and consume electricity have undergone notable transformations. Governments and businesses across many countries are striving to ensure reliable, accessible and sustainable energy supply to consumers, as well as to meet climate change commitments by 2050 through an efficient energy transition. This new global focus has unlocked a vast array of opportunities for developers, tech providers and investors. 

As of early 2022, Ukraine's energy industry was among the most powerful in Europe, but the war in Ukraine led to significant losses in the energy sector. Many installed renewable energy capacities are still in the occupied territory, and this can lead to a reduction of such post-war capacities by up to 60% due to destruction or theft. Given this, Renewables have become important not only environmental, but also for security and economic purposes for our country. 

Promoting investment in the Renewables stands as a paramount priority for the Ukrainian government. A range of tax incentives, “Green” tariffs and other incentives make the sector attractive to both domestic and foreign investors. For example, the Law of Ukraine No. 3220-IX adopted in July 2023, aims to improve the conditions for supporting renewable energy producers and, in particular, to ensure the “green” transformation of the energy system as a whole. The renewable energy sector also requires the continuous implementation of cutting-edge technologies to increase efficiency.

BDO in Ukraine has extensive practical experience cooperating with well-known companies in the renewable energy sector within the country. Our clients also benefit from the collective expertise of our Global network, which operates in over 160 countries worldwide. We have experts in renewable energy and energy transition, specializing in:

• Business Restructuring
• Transaction Support
• Audit 
• Due Diligence
• Valuation and Financial modelling
• Tax Advisory
• Transfer Pricing 
• Strategic Consulting
• Business services and Outsourcing
• Digital Transformation

Despite the considerable losses and challenges brought on by the war, the Renewables Industry in Ukraine persists in its growth. Considering global trends and national needs, renewable energy in Ukraine stands poised to emerge as a pivotal sector in the nation’s economic landscape in the foreseeable future has every chance.