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worth of electricity through Ukraine – the equivalent of the combined total of the next two countries, Poland and Romania.
9.1.10 ​Renewables sector news
Solar and wind producers are asking Prime Minister Shmygal to use state budget money to pay bills that could top $1bn by the end of this year. Under a law that went into effect August 1, the government commits to keep current on the new, reduced green tariffs and to pay 40% of the backlog by the end of this year. The remaining 60% is to be paid next year. In a letter signed yesterday by producer groups, the government was $800mn behind on August 1st. Now, the Guaranteed Buyer, or GarPok, predicts it will have trouble paying $350mn more by the end of this year. The letter was signed by the European-Ukrainian Energy Agency, the Ukrainian Wind Energy Association and the Ukrainian Renewable Energy Association.
After the government failed to muster enough votes, Olga Eremina, senior banker for Energy at EBRD’s office in Ukraine, said: “At present, we do not see how the government will be able to solve this problem.” The bank, a major lender to renewable projects, had planned to contribute €220mn with the European Investment Bank to support a payoff facility. “This reduces both the chance of issuing government bonds, and even less the chance that payments on renewable energy sources will be made in accordance with legal obligations,” she said at a conference organized by the European Ukrainian Energy Agency.
72​ UKRAINE Country Report​ October 2020 ​ ​www.intellinews.com