We would like to inform you that in view of the current energy crisis in Ukraine, the international community and representatives of almost 120 foreign and Ukrainian companies-owners of solar power plants address with the letters on energy security and development of renewable energy in Ukraine, in particular to support some amendments to Bill 3658 (regarding renewable energy), and maintain the investment climate in the energy sector of Ukraine:

1. Letter from U.S.Congresswoman and co-chair of the U.S. Congressional Ukraine Caucus Marcy Kaptur and U.S. Congressman and member of the U.S. Congressional Ukraine Caucus Mike Quigley to the President of Ukraine Volodymyr Zelenskiy about energy security and the development of renewable energy in Ukraine. In particular, they urged the government and the Administration to engage in negotiations with key industry players to ensure robust continued foreign investment and growth in this strategic sector, as well as to proceed with the consensual approach in negotiations with both wind and solar investors and industry players as the Administration seeks to restructure the legislation that has served as the basis for their respective investments.

Link to the original text of the letter: https://cutt.ly/uolmoiv

2. Letter from international financial institutions (IFI and DFI investors) on the development of the renewable energy sector, in particular Bill 3658 and its impact on projects in the renewable energy sector in which they have invested.

3. Letter from Nordic Environment Finance Corporation (NEFCO) appealing to resolve the energy crisis in Ukraine as soon as possible. In particular, the Corporation stressed that non-payment and retrospective reduction of tariffs for renewable energy projects led to a freeze on investment until the government’s legal situation is clarified and NEFCO’s current risk is assessed. The Corporation stated that investors in solar energy have asked to amend Bill 3658 to extend the PPA (power purchase agreement) for at least 2 years in case of reduction by 15% of the “feed-in” tariff for solar power plants over 10 MW and 12, 5% reduction for solar power plants up to 10 MW.

More information at the link: https://cutt.ly/yozIum1

4. The letter addressed to the President of Ukraine, the Chairman of the Verkhovna Rada of Ukraine, the Prime Minister of Ukraine and the Acting Minister of Energy of Ukraine which was signed by almost 120 foreign and Ukrainian companies-owners of solar power plants, in particular, GS Engineering & Construction (South Korea), Norsk Solar and Scatec Solar (both – Norway), TIU Canada (Canada), United Green (the United Kingdom), VR Capital (the USA / the United Kingdom), as well as the Ukrainian Association of Renewable Energy. The letter states that the position set out in it reflects the opinion of companies that have solar power plants with a total installed capacity of about 3 GW and have invested in projects about EUR 3 billion. “One of the main demands of the solar industry – the extension of power purchase agreements for two years in exchange for a 15% reduction in the “feed-in” tariff – was not included in the Memorandum between the government and RES producers and Bill 3658. This request is critical for solar power plants, as well as the international financial organizations which provided funding for the relevant projects.” – stated in the letter.

More information at the link: https://cutt.ly/7ozL4VD

 

We sincerely hope that these appeals will strengthen our voice in the Verkhovna Rada of Ukraine.

We look forward to further communication. If you have any questions or need additional information, please contact us by phone.