The European Union shares the common understanding with the Ukrainian authorities that there is still a need for a more balanced approach to supporting renewable energy in Ukraine, EU Ambassador to Ukraine Matti Maasikas has said.
“We share the common understanding with the Ukrainian authorities that going forward, there is a need for a more balanced approach to the support of renewable energy – competitive auctions for the right to build and supply renewable energy. This is a proven way to ensure green energy production at the lowest possible price,” Ambassador Maasikas said.
This model, he believes, along with others, such as direct supply of green energy to commercial and industrial consumers that see an advantage in paying premium for green energy, production of green hydrogen, and others, is what will “drive Ukraine’s green transition in the future.”
In Ukraine, the law on auctions is already in place and it is time to start practical implementation.
In addition, the ambassador said it was of utmost importance “to protect and have a fair and transparent treatment of the investors that took a risk and already invested into the renewable energy in Ukraine under the green tariff regime.”
“As a state, Ukraine has made these investors a promise and struck a deal that involved the green tariff for a number of years in return for investments. To change this deal retroactively now, when the investments have been made and projects have been implemented, would undermine the trustworthiness of Ukraine and will severely damage investor confidence. It also risks to be overturned by the international arbitrage courts,” Matti Maasikas said. (Ukrinform/Business World Magazine)
