Premier Tymoshenko seeks cooperation with Swedish investors to diversify energy sources

"We are looking for large-scale projects and would like Sweden, a recognized authority in this area, to become our strategic partner,” the premier said.
ymoshenko informed that, as of next year, Ukraine will have to buy the natural gas at market prices and is, therefore, interested in implementing projects aimed at energy production from alternative kinds of fuel. The share of renewable energy supplies in Ukraine’s energy balance is a mere 0.83% while in Europe it stands at 25%.

For his part, Sweden’s BiogazProm board member Bo Ronander declared that Swedish companies are prepared to move into Ukraine to realize various energy-producing projects, notably the biogas and gas made by recycling garbage, the so-called Yellow and Blue Project. Sweden is ready to invest up to 20 billion euro within 2 years, he confirmed.

Sweden’s Ambassador to Ukraine Stefan Gullgren informed that the Swedish government had endorsed a program of strategic support for Ukraine along two lines – energy-efficiency and environmental protection. Within this strategy Sweden will render assistance to the tune of 20 million euro to support private investors. The ambassador stressed that transparent rules and reliable laws are most important to attract foreign investments.

Addressing the meeting, Yulia Tymoshenko said the Ukrainian parliament had passed the first reading of the law creating a favorable investment climate for domestic and foreign investors. Among other things, the law envisages 10-year tax breaks for investors, she said.