On the 14th of May, RES investors met with the Prime Minister of Ukraine to discuss proposals from the Ukrainian authorities to address problems in the field of renewable energy.

The proposals submitted by the Government in the format of a Memorandum of Understanding include the suggested actions that both, Ukrainian government and investors could take.

Investors, among others, are requested to reduce the “green” tariff, take responsibility for imbalances in the nearest future, agree with the cut-off date for RES projects.

As for the actions of the Ukrainian authorities, the clarifications of specific regulations still have to be made and answer the following questions important for investors: which regulatory acts to amend; within which timeframes; who is responsible for the implementation of comprehensive decisions.

Unfortunately, many years of experience show that the wording of “proposing changes” or “considering issues” often leads to a lack of concrete action and responsibility to fulfill obligations. We truly hope this will not be the case this time. The issue of restructuring the “green” tariff addresses the challenge faced by the industry by only 30%.

Therefore, if investors are willing to give up a share of their income, then the Government of Ukraine should propose concrete actions that solve the industry problems and provide guarantees that in six months investors will not be asked to cut the tariff again.

EUEA Members are currently preparing feedback on the proposed Memorandum.