Hennadii Zubko: Energy efficiency should become a growing point of Ukraine's economy

The implementation of energy efficiency measures triggered growth of the economies of Eastern Europe. Energy efficiency and management has to become a growing point of the Ukrainian economy.

Vice Prime Minister, Minister of Regional Development, Construction, Housing and Utilities of Ukraine Hennadii Zubko said in his speech during Energy Policy Talks in Kyiv.

"Ukraine, which is now at the stage of active implementation of energy efficiency projects, opens for its European partners the perspectives and ways of investing in a market worth 55 billion Euro", said Hennadii Zubko.

According to the Vice Prime Minister of Ukraine, the annual market potential can reach almost EUR2 billion, thus creating up to 100 thousand jobs.

"Our state is building a transparent and clear energy efficiency strategy for investments legislatively supporting it. The endorsed law on energy service companies encourages budget institutions to introduce energy efficiency measures and raise interest of investors. In addition, there was approved a law on shared ownership of the housing sector", said the Vice Prime Minister of Ukraine.

According to Hennadii Zubko, Ukraine jointly with German Government has already made the first step towards the establishment of a new energy efficiency market by drafting a concept of Fund for Energy Efficiency, scheduled to launch in 2016.

"Today, the EU is actively engaged in the creation of a model of Fund for Energy Efficiency. This is the Fund, capable to operate effectively and to motivate investing by Ukrainians and foreign companies, banks as well”, said the official. The abovementioned model will enable to save subsidies provided by the Government to reimburse the cost of housing and communal services. This financial resource can be transferred to the Fund and utilized for energy efficiency programs.