Ukraine will get a platform for investing in renewable energy projects
The most active consulting companies operating in the green energy market in Ukraine - Dentons, CMS Cameron McKenna Nabarro Olswang, Everlegal, Baker Tilly, and IKNET - have signed a Memorandum of Cooperation. Recently, the companies announced creation of an open online platform for green projects - GetMarket.
The goal of the GetMarket platform is to structure and prepare the renewable energy projects market, which has been showing rapid growth and increasingly attracting investors in recent years. This will be achieved through providing support for the market players.
The project founder Yurii Podoliak, Director at IKNET, notes that renewables market in Ukraine has a high development pace, and is rather chaotic. Investors, especially foreign companies entering Ukraine often get lost and fall into the hands of unscrupulous companies, poor-quality projects, getting negative experience and leaving for other markets. It is not only the money that does not enter Ukraine’s economy, it is increasing its investment antirating. Even purchasing a land plot or a ready-to-build project, a Ukrainian or foreign investor is still at risk of dealing with dishonest local service providers or contractors.
The platform will allow investors to evaluate and select renewable energy projects according to chosen parameters, to find investment opportunities without excessive bureaucracy, to find reputable partners providing works and services. For Ukrainian business this is an opportunity to sell a share or whole projects, and to find an investor. But GetMarket will be something more than just a buyer and seller meeting place.