Dmytro Lukomskyi, Head of the Investment Committee of the Solar Energy Association of Ukraine and CEO of the Avenston Group, shared his perspective in his author’s blog on LIGA.net on why the future competitive advantage of Ukraine’s renewable energy market is being shaped today and what opportunities the current stage of its development creates for international investors.
According to the expert, Ukraine’s renewable energy market is undergoing a profound transformation, with the greatest value increasingly being created not by companies waiting for full stabilization, but by those already systematically studying the market, building partnerships, and preparing projects for implementation.
“Markets emerging from a period of turbulence almost always reward not those who waited for the signal ‘now it is safe,’ but those who learned to operate amid uncertainty before it disappeared,” says Dmytro Lukomskyi.
In his article, the expert notes that international investors can currently be broadly divided into two groups. Some are postponing their entry into the Ukrainian market until the war is over and military risks have decreased. Others are using this period to conduct a detailed analysis of the regulatory environment, seek local partners, prepare future projects, and develop a long-term strategy for operating in Ukraine.
According to Dmytro Lukomskyi, it is the second approach that will provide the greatest competitive advantage in the long term.
In his blog, the author also focuses on how investment logic will change after the war. He emphasizes that as geopolitical risks decrease, the key competitive factors will be access to well-prepared projects, land plots, grid infrastructure, and experienced local teams.
“An investor entering after the risk has disappeared faces less uncertainty, but also has far fewer options. The best partnerships and highest-quality projects will already have owners by then,” emphasizes the Head of the Investment Committee of SEAU.
According to the expert, the key scarce resource today is no longer capital, but investment-ready projects. High-quality development, trust from local communities, completed permitting documentation, and a deep understanding of the specifics of the Ukrainian market will determine the success of future investments.
Summing up his conclusions, Dmytro Lukomskyi emphasizes that the current period should be viewed not as a time for waiting, but as an opportunity to build strategic advantages that will be practically impossible to replicate once the market has fully stabilized.
“The question is no longer whether Ukraine will become an attractive market for international capital. The question is who will use the current period to establish a position that will be almost impossible to replicate once the Ukrainian market becomes fully open to large-scale international capital,” says Dmytro Lukomskyi.
The Solar Energy Association of Ukraine believes that systematic preparation of investment projects, the development of professional project development, and the establishment of long-term partnerships are already laying the foundation for the continued growth of Ukraine’s solar energy and energy storage markets after the war.
The full version of Dmytro Lukomskyi’s blog is available on LIGA.net: https://blog.liga.net/user/dlukomskyi/article/59706