EUEA meeting with Ukrainian deputies, Chairman of the SAEE, representatives of financial institutions and businesses

EUEA logo text ENGOn July 5, 2016, EUEA, with a support of the Verkhovna Rada of Ukraine, had a meeting with members of the Association, Ukrainian deputies, Chairman of the SAEE, representatives of the financial institutions and businesses.

The main topic of the meeting was the problem of financing in the Ukrainian sectors of EE and RES. Participants discussed the current status of renewable energy development and peculiarities of the projects financing in this area. 

Officials had developed a lot of legal acts in the field of renewable energy, adoption of which will activate "green" projects on the domestic market and facilitate the work of investors and entrepreneurs. Chairman of the SAEE, Sergei Savchuk, said that soon all these acts will be reviewed by the Government and in the Verkhovna Rada. "Today, our task is to create a competitive market and to facilitate doing business in this area. We know about the obstacles that business faced the most. That is why we are improving the legal basis", - said Mr. Savchuk and mentioned that the Agency permanently cooperates with representatives of the associations, NGOs, international agencies and businesses working in the energy sector for the development of the new mechanisms for attracting investment.

IFC representative, Nebojsa Arsenijevic, mentioned about the importance of signing the contract on the electricity purchase with a guaranteed buyer before the beginning of the project, it will improve the conditions of the project’s financing. During the phase of the project implementation laws may change, the conditions can vary and it should not affect conditions of the contract that was signed before the beginning of the project. The idea was supported by the deputies and EBRD representative. 

Nataliya Katser-Buchkovska, MP of Ukraine, agreed that attracting investment in the Ukrainian renewable energy sector is challenging, primarily because of the current situation in the country, the war in the eastern part of Ukraine and economic crisis, and also because of the instability of the Ukrainian legislation. That is why energy committee of the VRU is trying to put maximum efforts to simplify the business environment in the energy sector and to attract in this sector as much players as possible (Ukrainian and foreign).

As a result of the meeting it was decided to summarize the issues and proposals made by businesses and international organizations representatives during the event for further processing. Committee members and Chairman of the SAEE are open for cooperation and welcome any comments and suggestions concerning improvements in the Ukrainian energy sector.

Participants of the meeting were Ukrainian deputies, Chairman of the SAEE, representatives of financial institutions: EBRD, Energy Community, Ukrgasbank, Oshchadbank, GIZ, IFC, World Bank and business representatives: iC consulenten, Arzinger, VALOREM, Rentechno, ABB Ukraine, Panasonic Ukraine.

On behalf of the EUEA, we want to thank the Verkhovna Rada of Ukraine for its support in the organising of the event.

VRU-050716 VRU1-050716

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