Online Renewable Energy Investment Platform Launched in Ukraine

Online Renewable Energy Investment Platform Launched in Ukraine

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On June 20, 2019, the Dentons, CMS, and Everlegal law firms, working with global accounting network Baker Tilly and Ukraine's IKNET, which implements, manages, and guides investment projects in the energy industry, signed a Memorandum of Cooperation to create GetMarket, an open online platform for green projects.

A full launch of GetMarket is scheduled for the fall of 2019.

According to Everlegal, the goal of the GetMarket platform is to provide greater visibility and transparency to Ukraine’s growing renewable energy projects market, while also supporting market players and the growing number of foreign investors. Everlegal reports, “the renewables sector in Ukraine is developing very quickly, but there is still a great deal of uncertainty in the market, and a risk that investors could fall into the hands of unscrupulous companies or get involved in poor-quality projects.”

In its press release Everlegal says that the platform will be a convenient tool for insurance companies, banking and financial institutions, and consulting firms that operate in the renewable energy market that will allow investors to search for investment opportunities without bureaucracy, compare renewable energy projects according to chosen parameters, and find potential partners and suppliers. 

In advance of the fall launch, the founders will develop a database of market participants and establish what they describe as “unbiased and transparent” rating criteria. Data collection will start with solar projects, reportedly the most active segment of Ukrainian market at this time, and will progress to wind, biomass, and biogas projects. In the future, Everlegal reports that GetMarket will engage financial institutions, state institutions, business associations, and market participants to ensure a balanced perspective on the sector. 

In addition to the online platform, the GetMarket project will also include training seminars and networking meetings with market participants in different regions of the country.