This report describes the UkraineInvestment Plan for the Clean Technology Fund. Ukraine is alower middle income country, with GDP per capita of US$1,940in 2006. After a decade of steep economic decline, economicgrowth rebounded in 2000 and GDP grew by about 7.5 percentper year on average until 2007. To recover its economicgrowth and improve competitiveness, Ukraine will need toaddress a combination of challenges. Improving the energyefficiency of the economy and thereby reducing itsvulnerability to further import price shocks, as well asmodernizing the energy sector to make it more efficient, areamong those challenges. The Energy Strategy of Ukraine forthe Period until 2030, adopted in 2006, provides a platformfor addressing these issues over the three distinct phasesof development envisaged for the country. Energy andindustry are the priority sectors for intervention as theyaccount for 69 percent and 22 percent of country s GHGemissions, respectively The interventions with the highestpotential for reducing GHG emissions in Ukraine are: (1)energy efficiency; (2) increased use of nuclear power; (3)implementation of high efficiency combustion technologiesand carbon capture and storage (CCS) for new coal-firedplants; and (4) renewable energy.
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