• Expression of interest
  • Ukraine
  • 11.09.2019
  • 07.10.2019

Project Description

The Finland Ukraine Trust Fund provides grant financing to promote the cooperation between Finland and Ukraine and to identify opportunities for projects, both consultancy services and investments, in the fields of energy efficiency, renewable energy and alternative types of energy sources in power and heat generation and in district heating networks. The Trust Fund is financed by the Ministry for Foreign Affairs of Finland and managed by Nordic Environmental Finance Corporation (NEFCO). The local coordinator is the State Agency on Energy Efficiency and Energy Saving of Ukraine (SAEE).

Developing a Green Investment Fund (GIF) mechanism in Ukraine is one of the priorities in the The Finland Ukraine Trust Fund agreement between Finland and Ukraine. Substantial financing needs are evident in energy sector due to the high renewable energy and energy efficiency targets, for instance, the national renewable energy plan and National Strategy in Ukraine include increasing the use of renewables to 25 per cent.

The Finland Ukraine Trust Fund has approved the application by State Agency on Energy Efficiency and Energy Saving of Ukraine to carry out a preparatory study to assess the energy and financing market and regulatory framework in Ukraine with the aim to determine the specific investment strategy and preferred structure for the GIF.

Assignment Description

The Consultant shall review and analyse the energy and financing market as well as regulative and institutional framework and national policies and strategies in Ukraine with the aim to determine the need and type of further interventions to support the development of renewable energy , energy efficiency and alternative energy. The final objective of the Assignment is to scope, conceptualise and initiate the development of a Green Investment Fund mechanism in Ukraine.

The conclusions and recommendations to be produced by the Assignment shall be aligned with the Ukrainian national energy strategy and action plans, as well as relevant international programmes and commitments such as the Sustainable Development Goals and the Paris Agreement and NDC for Ukraine.

Analysis and Design phase shall carry out supporting surveys on energy and financing markets, regulative aspects relevant to GIF, green financing mechanisms and lessons learnt so far in Ukraine and in other countries. The outcome shall advice the next phase by providing the understanding of opportunities, gaps and bottlenecks which the GIF should address.
In the GIF Concept Development, the Consultant shall scope and evaluate alternative scenarios on GIF scope, focus and structure and review potential sources of funds for GIF including the financiers’ focus, preferences and restrictions, which may have an impact on formulating the investment strategy of the GIF.

Depending on the assessments of the Assignment, the possible activities and instruments of the GIF could include e.g. equity investments, grants, guarantees, loan financing, credit enhancement. It is anticipated that capacity building and advisory services for developing and implementing RE and EE projects and businesses would constitute one element of the GIF operations. The GIF would seek to leverage the financial sectors, both Ukrainian and international, in providing financial instruments for the Green Investments.

Read more about the submission requirements and wished consultant profile for the assignment in the attached document beneath.