Parliament of Ukraine adopted two bills allowing attracting investments in energy efficiency modernization of public sector

newsOn April 9, 2015 Parliament of Ukraine adopted two bills to introduce mechanisms for energy service contracts in public institutions (#1409 of 11.12.2014 and #1313 of 09.12.2014).

It is expected that Bills will eliminate main obstacles to attracting private capital to the thermal modernization in public institutions and also allowing:

1) ESCOs in budgetary institutions;

2) investors a guaranteed return on investment in energy efficiency of public buildings;

3) incentives for local communities as guaranteed cost remuneration on EE measures.

The draft law also removed the main obstacle to private investment – a 1 year budgetary limit and provided guaranteed return on investment up to 10 years.

Potential energy savings throughout energy service projects in public buildings across the country reach 1 billion cubic meters of natural gas.

More information about the law HERE.