G7 and partners launch Clean Energy Partnership for Ukraine

On Monday 4 December, Ukraine and members of the Group of Seven Plus, which consists of the G7 nations and their allies, jointly announced the formation of an expanded Clean Energy Partnership with the goal of assisting in the post-conflict reconstruction of the Ukrainian energy industry.

Source: this agreement was announced by the parties within the framework of the global climate summit COP28 in Dubai, as reported by European Pravda

Details: The Clean Energy Partnership will be a forum for discussion, coordination and knowledge sharing to support the recovery, reform and involvement of the private sector in Ukraine's transition to clean energy.

The mechanism brings together the Government of Ukraine, bilateral donors, key international organisations and financial institutions, as well as representatives of the private business sector.

Among the key tasks that the partnership will contribute to are the further liberalisation of the electricity market and the transition to market tariffs, energy efficiency, as well as the expansion of commercial participation in the energy sector.

Separately, it is stated that the Clean Energy Partnership will work in combination with the Ukraine Plan, which is a document that specifies the set of particular reforms needed to secure funding from abroad for the following four years.

The Ministry of Energy of Ukraine and Italy's Ministry of Environment and Energy Security decided to collaborate on energy transition and renewable energy sources within the framework of the COP28.

Before that, the US allocated US$25 million to Ukraine to restore the energy sector affected by Russian attacks.

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