Deputy Minister of Energy of Ukraine Roman Andarak held a meeting with representatives of the U.S. company Exceed Geo Energy to discuss the development of geothermal energy in Ukraine.
“Given the risks caused by Russia’s aggression, diversification of energy sources is a key priority for ensuring a stable electricity supply and increasing our own generation. Geothermal energy is a promising source of low-carbon baseload power and offers opportunities for flexible and decentralized production,” stated Roman Andarak.
The Deputy Minister also emphasized that the development of geothermal capacity aligns with Ukraine's goals of integrating its energy sector into the European energy market, and the country possesses significant potential in this area.
The discussion focused on aligning the regulatory framework and defining business models for future cooperation between Exceed Geo Energy and Ukrainian energy companies. The parties also examined the technical parameters for building a pilot geothermal project in Ukraine, utilizing Exceed Geo Energy’s unique, advanced technologies and equipment.
Representatives of Exceed Geo Energy expressed strong solidarity with the people of Ukraine in their resistance to Russia’s military aggression. They reaffirmed their readiness to deepen their partnership with the Government of Ukraine and energy companies at this stage.
