Ukraine signs agreements to develop biofuel market

The State Agency on Energy Efficiency and Energy Saving and the Ukrainian Energy Exchange have signed an agreement to develop a transparent and competitive biofuel market. The development of biofuel exchange trading will become a development driver for Ukrainian bioenergy, reports Hanna Zamazeyeva, head of the State Agency on Energy Efficiency and Energy Saving, on Facebook.

She emphasized that the market should have: transparent and competitive conditions; fair pricing; a sufficient amount of high-quality raw materials to widely install biomass boilers. According to her, the use of biofuel as an alternative to fossil fuels will allow: replace gas and save from 30% to 60% of budget funds; ensure energy supply of social and important critical infrastructure facilities during war and Russian terrorist attacks; to activate economic processes.

“Despite the war, from 2022 to October 2023, 360 MW of capacities producing heat from biomass were introduced, which is about €72 million of investment in our economy,” Zamazeyeva explained.

She added that the development of the biofuel market meets both the requirements of time and the needs of communities for energy security, as well as the decision of the National Security and Defense Council of Ukraine to increase the use of alternative fuels.

Zamazeyeva emphasized that the State Agency on Energy Efficiency and Energy Saving, together with the Ukrainian Energy Exchange, as well as all relevant associations and an expert group, will actively develop legislative conditions for the introduction of market instruments for the development of bioenergy.