Page 69 - UKRRptDec21

prospects of EBRD investments in decarbonization projects in Ukraine. It is noted that the EBRD supports Ukraine in its efforts to make a "green" transition and is ready to invest in specific projects on decarbonization and renewable energy. During its operation in Ukraine, the EBRD has implemented 505 projects, investing €15.3 bln.
Less than 10 days after Ukrenergo raised $825 million in a ‘green’ Eurobond to pay debts to solar and wind producers, the Cabinet of Ministers fired the head of Guaranteed Buyer, the unit charged with making the payments. “The reason for my dismissal was that I refused to follow the illegal instructions of the government representatives regarding the payments by producers of electricity from renewable sources,” Konstantin Petrikovets, the head of Guaranteed Buyer, said Saturday in a statement.
The green bond was raised for the purpose of paying $740 million to renewable producers. He said: “No attempts at political pressure, telephone calls and threats will force the state-owned enterprise to deviate from the law and use these funds as politicians please.”
Seen as a solution to Ukraine’s two-year impasse over payments to solar and wind producers, the bond was placed Nov. 2, the day when President Zelenskiy was participating in the climate change conference in Glasgow. There, Zelenskiy said on Nov. 2 "Our goal by 2030 is to reduce greenhouse gas emissions by 65 percent...Access to reliable and long-term financing, especially within the framework of the Green Climate Fund, is important for us.” The next day, the EBRD announced that the bank had invested $75 million of the green bond.
Instead, the government plans to use “all” the ‘green’ bond money to invest in Energoatom, Ukraine’s state-owned nuclear power producer, tweets Anders Aslund, the Stockholm-based economist. “Thus, the Ukrainian government maintains the chaos on the electricity market & successfully deters FDI from Ukraine. How will the @EBRD react?”
9.1.11 Metallurgy & mining sector news
Coal is on its way to Ukraine from Poland, South Africa and the US, Energy Minister Herman Galushchenko told the Rada Friday. Although imported coal comes with a premium price -- $300 a ton – the shiploads will prevent blackouts this winter, he said. Separately, Denis Kudin, chairman of Centrenergo's supervisory board, says the state company is importing 100,000 tons by rail and another 130,000 tons by sea, largely from Europe and Latin America. With coal supplies tight, Ukrenergo, the state electricity company, is providing the Energy Ministry a list of coal powered plants that will switch this winter to natural gas.
Coal production in Ukraine this year amounted to more than 24mn tons,
which is 6% higher than the planned production, announced the Ministry of Energy. In particular, 4.75mn tons of coal were mined at enterprises under the Ministry of Energy.
A Chinese company is trying to obtain a permit to mine lithium in
69 UKRAINE Country Report December 2021 www.intellinews.com