ATTRACTION OF FOREIGN INVESTMENTS INTO THE DEVELOPMENT OF GREEN ENTREPRENEURSHIP (ALTERNATIVE ENERGY SOURCES) IN UKRAINE UNDER CONDITIONS OF WAR AND ENERGY SECURITY

Abstract

The article examines key aspects of renewable energy development in Ukraine in the context of the global transition to a green economy. The author emphasizes the relevance of researching green investments in the current conditions, when the global economy is facing large-scale environmental challenges, such as climate change, resource depletion, and environmental degradation. It is emphasized that attracting environmentally oriented capital is not only a tool for economic growth but also the foundation for the sustainable development of the state. By joining the European Green Deal, Ukraine has set strategic goals to achieve climate neutrality by 2060, which requires increased investment in renewable energy, especially in the context of military challenges and energy instability. The paper analyzes the dynamics of the growth of the share of RES in Ukraine's energy balance in 2016–2023, which increased almost tenfold from 1.03% to 9.83%. It was found that solar energy accounts for the largest share in the structure of green energy production (over 64%), followed by wind (about 21%) and bioenergy. The potential for investment in the renewable sector has been assessed, with wind and solar technologies showing particular promise due to their optimal combination of cost, energy efficiency, and environmental impact. The results of the analysis of state policy in the field of renewable energy support are presented, in particular, legislative acts regulating alternative energy, innovative activities, and climate policy. It is concluded that the existing regulatory framework creates a basis for the development of the industry, but needs further improvement in terms of stimulating technological innovation and reducing regulatory barriers. Based on the analysis, the author proposes a scheme for attracting green investments to the RES sector by creating a state investment platform called “Green RES.” Its operation involves public selection and expert review of projects, state guarantees for the security of capital investments, and transparent control over project implementation. This approach will help build trust among international investors, ensure efficient use of resources, and stimulate the development of innovative technologies and Ukraine's energy independence. It is concluded that expanding international investment partnerships in the field of green energy is a strategic direction for the post-war recovery of the national economy and Ukraine's integration into the European energy space.