Wednesday, May 22, 2024
HomeRenewablesUkraine passes new legislation to attract bioenergy investors
Powered by

Ukraine passes new legislation to attract bioenergy investors

Ukraine’s unicameral legislature Verkhovna Rada has amended a draft investment act, hoping to attract new investors in the country’s biogas and biomethane sectors (9 August).

“During the development of draft law number 8138, an absolutely correct idea arose to extend the effect of the law on investments to projects aimed at the production of biogas and biomethane (including bioLPG). And yesterday, the Parliament supported this proposal by voting for the draft law,” said Andrii Zhupanyn, Member of the Parliamentary Committee on Energy and Housing and Communal Services.

As a result of the legislative changes, investors in new biogas and biomethane plants will be exempt from income tax (for 5 years), land tax, and VAT and customs duties when importing new equipment and components.

“We are grateful to the people’s deputies of Ukraine, in particular Ihor Marchuk (Member of Verkhovna Rada) and Andrii Zhupanyn, for important initiatives for the biomethane sector!” the Ukrainian Bioenergy Association said in a press release.

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular