There is vast potential anywhere one looks. Ukraine is endowed with huge estimated reserves of shale gas, which could make Ukraine less dependent on the will of Russia’s Gazprom. There is plenty of space and natural conditions for wind and solar power generation. With a huge and rapidly growing agriculture sector, Ukraine has amazing possibilities for production of biogas. Electric cars, a cheaper, greener way to move around, have barely started selling here, so the market is up for grabs.
Then reality settles in when reading the complaints of industry experts and investors in these articles, their frustrations and disappointments from being unable to tap into that potential for a number of reasons. Most of them are Ukraine’s longstanding problems, such as a poor legal field, no guarantees of protection of property rights and no justice in the court system.
Admittedly, Ukraine has taken a number of pro-green steps: it adopted legislation on green tariffs, giving financial incentives for renewable energy production and enacted production sharing agreement legislation — an essential precondition for larger scale operations such as shale gas extraction.