Tetiana Mylenka spoke on radio about the current situation on the green energy market in Ukraine
On October 14, at the invitation of radio presenter Andrii Kulikov, Tetiana Mylenka, Counsel and Head of the Energy Practice at Hillmont Partners, spoke on radio about the current situation on the green energy market in Ukraine, as well as prospects for foreign investors to submit arbitration claims against Ukraine in connection with the introduction of retrospectively reduced tariffs for electricity generated from renewable energy sources and systemic non-payment / delay in payment for electricity supplied by Guaranteed Buyer.
In particular, Tatiana noted that:
– In March 2020, the Guaranteed Buyer paid 47%, while in the period from April to July 2020 the level of payments was 4-5%. In the first 20 days of September the level of settlements amounted to 27% (UAH 0.9 billion).
– According to the Memorandum of Understanding concluded between the Government of Ukraine and two associations representing the RES sector, 40% of the Guaranteed Buyer’s debts to RES producers must be repaid in the 4th quarter of 2020. However, not all the necessary measures aimed at resolving this issue have been implemented so far.
Due to the systemic failure of Guaranteed Buyer to fulfill its financial obligations to RES electricity producers, the latter have revived their preparations for arbitration claims against the Ukrainian government.