International investors in RES urge govt to sign compromise memo as soon as possible

International investors in RES urge govt to sign compromise memo as soon as possible

Group of international investors operating and building renewable energy facilities in Ukraine have asked the government to sign a memorandum on resolving issues in the field of renewable energy ...

A group of international investors operating and building renewable energy facilities with a total installed capacity of more than 2 GW in Ukraine have asked the government to sign a memorandum on resolving issues in the field of renewable energy as soon as possible.

"We look forward to reaching a compromise and signing a memorandum that would respect the rights of investors and envisage steps to achieve a comprehensive reform of the electricity market," according to a letter to the prime minister from the representatives of 15 foreign companies operating in the renewable energy sector, available to the Energy Reform online portal.

In particular, among the authors are Emsolt (Turkey), NBT, Scatec Solar (both based in Norway), TIU Canada (Canada), VR Capital (the United States), Vindkraft (Sweden), Total Eren (France).

According to this letter, investors expressed their readiness to support the government in stabilizing the financial situation through voluntary restructuring feed-in tariffs, thereby ensuring, in their opinion, a smooth transition to the auction system for supporting renewable energy sources and improving the financial condition of Guaranteed Buyer state enterprise.

However, the letter notes that renewable energy producers experience significant delays in payment by the state, and the level of payment over the past few months is only 10% of electricity generated.

Investors expect that, according to the terms of the memorandum, the state will undertake ensuring the repayment of accumulated debts within the agreed period, but no later than the end of the year, as well as timely payment for electricity generated in the future.

In turn, investors propose a reduction in feed-in tariffs for solar plants commissioned in 2017-2019 by 12.5% and 15% (respectively for solar plants with a capacity of up to 10 MW and more than 10 MW), for wind farms by 7.5% with the prolongation for 2 years.

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