Five legal and consulting firms, active in the green energy market in Ukraine - Dentons, CMS Cameron McKenna Nabarro Olswang, Everlegal, Baker Tilly, and IKNET - have signed a Memorandum of Cooperation to create an open online platform for green projects, GetMarket.
Visibility and transparency
The GetMarket platform is already running in beta, with the full launch scheduled for the autumn of 2019. The goal of the GetMarket platform is to provide greater visibility and transparency to Ukraine’s growing renewable energy projects market, while also supporting market players and the growing number of foreign investors. The renewables sector in Ukraine is developing very quickly, but there is still a great deal of uncertainty in the market, and a risk that investors could fall into the hands of unscrupulous companies or get involved in poor-quality projects. The platform will be a convenient tool for insurance companies, banking and financial institutions, and consulting firms that operate in the renewable energy market. It will allow investors to search for investment opportunities without excessive bureaucracy, compare renewable energy projects according to chosen parameters, and find potential partners and suppliers. For Ukrainian businesses, GetMarket provides an opportunity to find investors and sell their projects. In advance of the autumn launch, the founders will develop the database of market participants and establish unbiased and transparent rating criteria. Data collection will start with solar projects - the most active segment of Ukrainian market at this time - and will then progress to wind, biomass, and biogas projects. They will also engage with key financial institutions, state institutions, business associations, and market participants to ensure a balanced perspective on the sector.
Range and quality
In addition to the online platform, the GetMarket project will also include training seminars and networking meetings with market participants in different regions of the country. Maksym Sysoiev, counsel at Dentons, said “Thanks to the wide range of options that the platform offers both developers and investors, it will significantly improve the interaction between market players, attract investors to Ukraine, and through objective rating criteria, help investors select projects that fit with their investment objectives. The platform will bring the cooperation among market participants in Ukraine to a new level of quality.”