The alternative energy market has revived in Ukraine since the end of 2010. This was triggered by the entry into force of "green" tariffs for electricity produced from renewable energy sources, according to experts of Ukraine's Institute for Energy Studies.

"The year 2011 has been marked by the beginning of big changes in alternative energy. By and large, this is Ukraine's second attempt to create competition to imported natural gas after a failed program for alternative energy development in the 1990s," according to a study by the institute, UKRINFORM reports.

Investors are mostly interested in wind and solar energy in Ukraine. Austria's Activ Solar implemented large-scale projects on the construction of solar power plants in 2011. Over one year, it built three solar power plants in Crimea. In 2012, the construction of solar power plants will continue in Crimea and Odesa region.

Wind power in 2011 was represented by a project in Donetsk region - the Novoazovsky wind power plant. The project envisages the construction of 43 wind turbines with a capacity of 2.5 MW each. The design capacity of wind turbines is 107.5 MW.

Donbass Fuel and Energy Company (DTEK) also announced its plans to invest in wind energy. In 2011, it started drafting a project on the construction of a 500 MW wind power plant in Zaporizhzhia region in southeast Ukraine. In general, DTEK announced its ambitious plans to invest EUR 1.85 billion in the construction of two wind farms.

"A natural result of the activity of companies in the field of alternative energy development in Ukraine was the decision by international auditing company Ernst & Young to include Ukraine in its quarterly report entitled 'Renewable Energy Country Attractiveness Index.' Ukraine was for the first time included in the company's rating, which has been published since 2003. Our country was ranked 32nd among 40 countries where the conditions for investment in this sector are considered the best," the institute said.

The confirmation of the interest of foreign investors in the Ukrainian market of alternative energy was the fact that China National Machinery Industry Corporation decided to invest in the construction of a 300 MW solar power plant in southern Ukraine, according to the study.

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