A group of international and Ukrainian investors that represent the majority of the Ukrainian renewable energy sector, who invested more than EUR 4.0 billion in Ukrainian renewable energy projects, and have also made commitments to further investments exceeding EUR 2.0 billion over the next 3 years in sector of electricity generation from renewable sources using solar, wind and bio-energy to the President of Ukraine calling for actions to stabilize the RES sector.

Signatories to this letter are ready to consider accepting a limited reduction of the applicable FIT rate and a slight acceleration of the balancing responsibility (subject to the introduction of a cap on the balancing costs until a fully liquid, transparent and competitive balancing and ancillary services market is in place) in exchange for an extension of the duration of the Power Purchase Agreement (PPA) as well as approval by the Parliament and Government of a package of measures aimed at de-risking of the renewable sector. This concerns both renewable energy plants under operation and future projects that have secured Pre-PPAs.

This, and the results of these investments (income from profit taxes, employment, transition to carbon neutral energy system, reduced dependence on imported energy resources, etc.), would be an important success story for the Government of Ukraine in its efforts to attract foreign direct investments.