Profile RES associations urge to distribute Ukrenergo loans to pay off debts to ‘green’ generation

The European-Ukrainian Energy Agency (EUEA) and the Ukrainian Wind Energy Association (UWEA) have urged the government and the energy regulator to use the opportunity to repay debts to renewable energy generation through loans of state-owned banks to Ukrenergo.

This is stated in a letter from the EUEA and the UWEA to Prime Minister Denys Shmyhal and the head of the National Energy and Utilities Regulatory Commission (NEURC), Valeriy Tarasiuk, the text of which is available to Energy Reform.

"This letter is a reaction to the NEURC's attempt to approve a resolution on the approval of loans to attract them to Ukrenergo under state guarantees on December 31, 2020, with the introduction of clause 3, which clearly prohibits Guaranteed Buyer state enterprise from using these funds to pay off the "old" debts to manufacturers of electricity from renewable energy sources," the profile associations said.

At the same time, they note that these loans are currently the only available source of repayment of the "old" debt, given that to resolve this issue, in particular, a mechanism for issuing government bonds has not been developed, as was suggested by law No. 810-IX on conditions of support of renewable energy sources.

At the same time, the authors of the letter draw attention to the violation by the government of the norms of the memorandum of understanding signed with them and subsequently adopted law No. 810-IX, according to which, in particular, 40% of the debt to renewable energy generation accumulated as of August 1, 2020 had to be paid off until the end of last year.

Source: www.en.interfax.com.ua