News Ukraine

Light Green: Government seeks cut in renewables price

Ukraine’s government belatedly realized it was too generous in paying renewable energy providers and have now moved to cut the price 15% for solar power and 7.5% for wind energy. But some in the renewables sector, which provides 8% of Ukraine’s energy, are opposed – saying the promised investment returns through 2029 are why they invested nearly $10 billion into the sector in the first place. Arbitration and lawsuits could follow, while parliament needs to adopt the compromise announced by Ukraine’s Cabinet of Ministers on June 10. Ukraine’s government owes renewable energy producers more than $530 million in back payments. In the photo, a man walks past solar panels of the UDP Renewables power plant in Kyiv Oblast on Sept. 26, 2017.

The Cabinet of Ministers has created a road map for compromise with green energy companies, whom the government owes more than Hr 14 billion ($530 million).

Two out of three of Ukraine’s major renewable energy associations signed a memorandum of understanding with the government on June 10. Under it, renewable companies would get less money for the energy they sell, while the state would have to repay its debts in full. Parliament must pass a law for this roadmap to become official.

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Source: www.kyivpost.com

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