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Investment and Innovation Activity of Renewable Energy Sources in the Electric Power Industry in the South-Eastern Region of Ukraine

Author

Listed:
  • Dariusz Sala

    (Department of Enterprise Management, AGH University of Science and Technology, 30-059 Krakow, Poland)

  • Iryna Bashynska

    (Department of Enterprise Management, AGH University of Science and Technology, 30-059 Krakow, Poland)

  • Olena Pavlova

    (Department of Economics and Environmental Management, Lesya Ukrainka Volyn National University, 43025 Lutsk, Ukraine)

  • Kostiantyn Pavlov

    (Department of Entrepreneurship and Marketing, Lesya Ukrainka Volyn National University, 43025 Lutsk, Ukraine)

  • Nelia Chorna

    (Department of Accountance and Economical-Law Agricultural Business Provision, West Ukrainian National University, 46009 Ternopil, Ukraine)

  • Roman Chornyi

    (Novovolynsk Educational-Scientific Institute of Economics and Management, West Ukrainian National University, 46009 Ternopil, Ukraine)

Abstract

Nowadays, the Ukrainian electricity industry is experiencing difficult conditions, as it is operating in a mode of depletion of its production potential. At the same time, the transition to sustainable and renewable energy is the necessary basis for the country’s welfare and for ensuring its energy security. Therefore, today we cannot do without the additional attraction of sources of funding from investors. The purpose of the survey is to study the pattern and effectiveness of investments and identify links and dependencies between key technical and economic parameters and investments in renewable energy sources. To achieve this goal, the authors divided the study into four successive stages, which made it possible to study the subject of the study comprehensively. As a result of the study, results have been obtained that complement the existing theoretical, methodological, and practical developments. Mathematical calculations (using the example of the largest wind power plants in the south-eastern region) revealed transparent relationships and dependencies between the critical technical and economic parameters of the WPP of South-Eastern Ukraine and investments in the wind energy sector. Among them: the installation of 1 MW of additional WPP generating capacity requires an average of EUR 1.51 million of investment resources, and the production of one additional kWh of electricity requires an investment EUR 0.42 euros; therefore, providing an additional thousand households with WPP electricity is possible with an investment of EUR 1.345 million.

Suggested Citation

  • Dariusz Sala & Iryna Bashynska & Olena Pavlova & Kostiantyn Pavlov & Nelia Chorna & Roman Chornyi, 2023. "Investment and Innovation Activity of Renewable Energy Sources in the Electric Power Industry in the South-Eastern Region of Ukraine," Energies, MDPI, vol. 16(5), pages 1-21, March.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:5:p:2363-:d:1084749
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    References listed on IDEAS

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    2. Sandipa Bhattacharya & Mitali Sarkar & Biswajit Sarkar & Lakshmi Thangavelu, 2023. "Exploring Sustainability and Economic Growth through Generation of Renewable Energy with Respect to the Dynamical Environment," Mathematics, MDPI, vol. 11(19), pages 1-22, September.
    3. Aleksander Iwaszczuk & Ivanna Zapukhliak & Natalia Iwaszczuk & Oleh Dzoba & Oleksandra Romashko & Nataliia Krykhivska, 2023. "Prospects for the Development of Photovoltaics in Ukraine," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 308-338.
    4. Tetiana Kurbatova & Iryna Sotnyk & Galyna Trypolska & Laima Gerlitz & Tetiana Skibina & Olha Prokopenko & Oleksandra Kubatko, 2023. "Ukraine`'s Bioenergy Sector: Trends and Perspectives for the Post-war Green Energy Transition," International Journal of Energy Economics and Policy, Econjournals, vol. 13(5), pages 515-532, September.
    5. Tetiana Kurbatova & Iryna Sotnyk & Olha Prokopenko & Iryna Bashynska & Uliana Pysmenna, 2023. "Improving the Feed-in Tariff Policy for Renewable Energy Promotion in Ukraine’s Households," Energies, MDPI, vol. 16(19), pages 1-18, September.
    6. Jian-Hang Wang & Yu-Hsien Wu & Phil Yihsing Yang & Hsiang-Yi Hsu, 2023. "Sustainable Innovation and Firm Performance Driven by FinTech Policies: Moderating Effect of Capital Adequacy Ratio," Sustainability, MDPI, vol. 15(11), pages 1-15, May.

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