International investors in RES call on the Government to sign a Memorandum of Understanding

25/ 05/ 2020

International investors in the renewable energy sector with the participation of the Ministry of Energy and Environmental Protection have consolidated their proposals to support and stabilize the financial situation in the energy market and call on the Prime Minister of Ukraine to sign a Memorandum of Understanding. According to the provisions of the Memorandum, investors decide on the voluntary restructuring of the green tariff, thereby ensuring a gradual and successful transition to the auction system and reducing the unstable financial position of the SE Guaranteed Buyer. On the part of the state, the business expects the rules of the game to be stable, so that it will be possible to plan further activities considering long-term prospects. . . The signing of this Memorandum will be an important signal to the international community and European partners that Ukraine fulfills its commitments. After all, this will mean that both the state and business have decided on the rules of the game. Thus, they are ready to unveil those rules to the public and follow them in their work instead of constantly changing the terms and conditions. This, in turn, negates the possibility of international arbitration. Besides, it paves the way for new investments in the RES sector and the economy of Ukraine. It is worth noting that investors are trying to make a constructive contribution to resolving the current energy crisis in Ukraine and to promote further investment in the energy sector and hope that the authorities have the same aspiration. It is expected to solve the critical problems in the national economy and energy sector, and increase the investments to the country, the total amount of which already exceeds 10 billion US dollars. Therefore, the European Business Association hopes that a Memorandum of Understanding will be signed as soon as possible!

According to the provisions of the Memorandum, investors decide on the voluntary restructuring of the “green tariff”, thereby ensuring a gradual and successful transition to the auction system and reducing the unstable financial position of the SE “Guaranteed Buyer”. On the part of the state, the business expects the rules of the game to be stable, so that it will be possible to plan further activities considering long-term prospects.

The signing of this Memorandum will be an important signal to the international community and European partners that Ukraine fulfills its commitments. After all, this will mean that both the state and business have decided on the rules of the game. Thus, they are ready to unveil those rules to the public and follow them in their work instead of constantly changing the terms and conditions. This, in turn, negates the possibility of international arbitration. Besides, it paves the way for new investments in the RES sector and the economy of Ukraine.

It is worth noting that investors are trying to make a constructive contribution to resolving the current energy crisis in Ukraine and to promote further investment in the energy sector and hope that the authorities have the same aspiration. It is expected to solve the critical problems in the national economy and energy sector, and increase the investments to the country, the total amount of which already exceeds 10 billion US dollars.

Therefore, the European Business Association hopes that a Memorandum of Understanding will be signed as soon as possible!