Climate Change Initiative, Ukraine

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Investment Projects for GHG Mitigation in Ukraine

At the present time Ukraine is starved of investment capital for urgently needed modernization of the economy, and the country is also dependent on imports to meet most of its primary energy requirements. If Ukraine ratifies the UNFCCC Kyoto Protocol, the financing mechanisms employed in the Protocol would bring new investment sources to the country. These investments will benefit the Ukraine economy with reduced GHG emissions, energy waste and energy imports, and increased economic productivity.

The CCI Center maintains a database of potential GHG mitigation projects. The objective is to help find domestic and foreign financing for the most promising ones. These investment projects may be suitable for Joint Implementation (JI) with parties in other industrialized countries.

Projects implemented jointly should bring about real, measurable, and long-term environmental benefits related to the mitigation of climate change. They should also be consistent with national priorities, provide local social, economic, and environmental benefits, and have a credible financial and management structure for implementation (Kyoto Protocol, article 6). Based on these general principles, the following preliminary criteria have been elaborated by CCI to provide a basis for screening potential investment projects.

Preliminary Screening Criteria:

Proof of Proposed Reductions in GHG Emissions	Reductions must be shown in the differences between (1) a Baseline or Reference Scenario in which emissions continue at a certain level and (2) a second Project Scenario in which GHG reductions occur as a result of project implementation and abatement.
Measurability	Availability of methods to measure energy savings and GHG reductions (approved by an expert opinion)
Reductions Timeframe	Continuous GHG reductions for at least 10 years after the project completion
Consistency with National Priorities	Energy efficiency, coal bed methane, and other projects listed as GOU priorities in National legislation, Presidential Decrees, and Cabinet of Ministers Orders
Co-Benefits	Evidence of reduced emissions of criteria pollutants (SO2, NOx, TSP), cost savings, employment and improved quality of life: reported or supported by local administration
Credible Parties	Profitable or financially sound enterprise; local or national government agencies with taxing authority; ownership of facility; industry experience.

The following database includes some energy sector investment projects, which meet the preliminary screening criteria and are at an early or pre-intermediate stage of development. Interested parties may contact the project proponents directly or Anatoliy Bobrovitsky at the CCI Center in Kiev at abobrovitsky@climate.org.ua.

Vinnitsia District Heating Project

Ukraine Energy Star* Refrigerators (Regional)

“Skochinsky” Mine Methane Capture and Utilization

“Komsomolets-Donbassa” Mine Methane Capture

Donetsk Wind Energy Project

Dniprodzerzhinsk Commercial Energy Efficiency

“Bagleykoks” Coke-Oven Gas Utilization

NORD Manufacturing Cogeneration Project

“Zolotonoshmiaso” Cogeneration System

Kachanov Associated Gas Capture and Utilization

Heat-Recovery Boilers and Steam Turbine Installation at KC-33 Hrebinkivska Gas Compressor Station (Urgenoi-Uzhgorod Pipeline)

Rivneazot CO₂ Capture and Process Upgrade