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Repayment of debts to RES producers is blocked

16/ 11/ 2021
  From 2014 to 2020, thanks to favorable investment conditions and an attractive support model, more than € 6.1 billion of investments were attracted to the renewable energy sector. As a result, in 2020 Ukraine reached 8th place in the ranking of investment attractiveness for RES. As it is known, the state made the commitments to repay the debts owed to RES producers and ensure the full fulfillment of current obligations under the feed-in tariff scheme according to paragraphs 3 and 4 of the Memorandum of Understanding on the Settlement of Problematic Issues in the Renewable Energy Sector in Ukraine, signed on June 10, 2020. However, these obligations to RES producers remain unfulfilled, the same is true for the obligations to ensure 100% payments under the feed-in tariff scheme. Thus, according to the EBA member companies, the debt of PJSC NEC Ukrenergo to the SE “Guaranteed Buyer” already amounts to approximately UAH 13.1 billion, and the debt of the SE “Guaranteed Buyer” to RES producers for 8 months of 2021 exceeds UAH 8. billion UAH. Ultimately, this situation could disrupt the delivery of payment obligations to RES producers. At the same time, on October 1, 2021, the SE “Guaranteed Buyer” published that the payment of debts to RES producers for 2021 is fulfilled at the level of 93% - January-April, 73% - May, 70% - June, 67% - July, 56% - August, 46% - September, 45% - October. Therefore, the issuance of the 5-year Green and Sustainability-Linked Eurobond with the worth of 825 million US dollars was such awaited news. Thus, the Eurobond is irrevocably and unconditionally guaranteed by the state of Ukraine. As it became known, on November 12, 2021, the SE Guaranteed Buyer wired UAH 19.3 billion (previously transferred from PJSC NEC Ukrenergo”) to RES producers under the feed-in tariff scheme. However, later the funds were blocked and did not reach the accounts of renewable energy companies in full. Therefore, the business community hopes that state institutions and state-owned banks will take all measures to pay off the debt in full and in proportion to all RES producers.   Be the first to learn about the latest EBA news with our Telegram-channel – EBAUkraine.

From 2014 to 2020, thanks to favorable investment conditions and an attractive support model, more than € 6.1 billion of investments were attracted to the renewable energy sector. As a result, in 2020 Ukraine reached 8th place in the ranking of investment attractiveness for RES.

As it is known, the state made the commitments to repay the debts owed to RES producers and ensure the full fulfillment of current obligations under the feed-in tariff scheme according to paragraphs 3 and 4 of the Memorandum of Understanding on the Settlement of Problematic Issues in the Renewable Energy Sector in Ukraine, signed on June 10, 2020.

However, these obligations to RES producers remain unfulfilled, the same is true for the obligations to ensure 100% payments under the feed-in tariff scheme.

Thus, according to the EBA member companies, the debt of PJSC NEC Ukrenergo to the SE “Guaranteed Buyer” already amounts to approximately UAH 13.1 billion, and the debt of the SE “Guaranteed Buyer” to RES producers for 8 months of 2021 exceeds UAH 8. billion UAH. Ultimately, this situation could disrupt the delivery of payment obligations to RES producers.

At the same time, on October 1, 2021, the SE “Guaranteed Buyer” published that the payment of debts to RES producers for 2021 is fulfilled at the level of 93% – January-April, 73% – May, 70% – June, 67% – July, 56% – August, 46% – September, 45% – October.

Therefore, the issuance of the 5-year Green and Sustainability-Linked Eurobond with the worth of 825 million US dollars was such awaited news. Thus, the Eurobond is irrevocably and unconditionally guaranteed by the state of Ukraine. As it became known, on November 12, 2021, the SE “Guaranteed Buyer” wired UAH 19.3 billion (previously transferred from PJSC NEC “Ukrenergo”) to RES producers under the feed-in tariff scheme. However, later the funds were blocked and did not reach the accounts of renewable energy companies in full.

Therefore, the business community hopes that state institutions and state-owned banks will take all measures to pay off the debt in full and in proportion to all RES producers.

 

Be the first to learn about the latest EBA news with our Telegram-channel EBAUkraine.

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