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.