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Germany’s renewable energy investment drive in Ukraine at risk amid tensions
(EurActiv, 21 Feb 2022) The amassing of Russian troops at the Ukrainian border has jeopardised Germany’s plans to invest in renewable energy production and help a green transition in Ukraine, the German foreign ministry said on Monday (21 February).
As part of an agreement between the US and Germany to end disputes over the Nord Stream 2 fossil gas pipeline, Berlin committed to attract $1 billion in private investments and provide $245 million in direct support to aid the green transition in Ukraine.
But now “Russia’s military threats are having a very real impact on the situation in Ukraine, particularly on the investment climate,” a spokesperson for the German foreign ministry said.
“Is [the Russian military threat] a strain on plans to invest in renewable energy and hydrogen? Of course, it is,” the official said.
“Where people, where companies invest in the future in Ukraine, this is of course enormously complicated by the current tensions,” he added.
To help alleviate the impact of the Russian threat on the Ukrainian economy, countries like Canada, which offered $500 million in loans in mid-February, and Germany are funnelling money into Ukraine.
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EurActiv, 21 Feb 2022: Germany’s renewable energy investment drive in Ukraine at risk amid tensions
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