The EBRD, the European Commission and development partners have unveiled the Ukraine Renewable Energy Risk Mitigation Mechanism (URMM), which aims to accelerate renewable energy investments in the country to deliver secure and clean energy. Once implemented, the mechanism is expected to support 1 GW of new renewable energy capacity, potentially mobilising €1.5bn in investments.
The URMM incentivises investments in renewable energy by stabilising revenues for developers. By giving generators and investors greater confidence in future revenues, this mechanism is expected to bring new investments in renewables to Ukraine. The mechanism will be open to all financial institutions to lend to the selected projects. Participating projects are expected to be selected via auctions.
The European Union has approved €180m to support the mechanism under its Ukraine Investment Framework (UIF) and The Netherlands aims to provide grants of €12m. Germany, Norway, Sweden, and Switzerland are also considering supporting the initiative.
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