Renewable energy offers interesting perspectives for agriculture and forestry in Ukraine. It is broadening the range of available energy sources, creating new market outlets for agricultural producers besides food production. It contributes to national energy security by diversifying energy supply sources. Linked food and energy markets will increase competition and the most efficient producers will benefit most of new markets in future. This policy paper has been prepared to present the perspectives of various energy sources based on national and international experiences. It covers bioenergy, hydro, wind, solar and geothermal energy. Major emphasis has been put on bioenergy. The paper outlines the current situation and perspectives of these energy sources for the Ukrainian Government and national and international investors. A separate policy paper on the economics of biofuels (bioethanol and biodiesel) is under preparation.