17:40 15.01.2021

Govt inclined to equally distribute UAH 10.25 bln Ukrenergo's govt-secured loan between Energoatom, renewable energy generation – PM

2 min read
Govt inclined to equally distribute UAH 10.25 bln Ukrenergo's govt-secured loan between Energoatom, renewable energy generation – PM

The preliminary decision on the distribution of UAH 10.25 billion government-secured loans received by NPC Ukrenergo from three state-run banks to repay its debt to state-owned enterprise (SOE) Guaranteed Buyer, provides for their equal division between Energoatom and RES generation, Prime Minister Denys Shmyhal has said.

"The preliminary decision is to distribute funds from Ukrenergo equally between Energoatom and the producers of green electricity," he said in an exclusive interview with Interfax-Ukraine.

The prime minister said that with this approach, the parties will eventually receive about UAH 5.1 billion.

Shmyhal called such a solution a balanced and compromise, but said that it will still be worked out. "We still have time, several days, to finally decide," the head of government said.

He said that the government is aware of the importance of support for both nuclear generation, as the basis for the state's energy security, and renewable energy generation, where Ukraine has international obligations signed, including with green electricity producers, the EBRD, and the World Bank.

"Energoatom is the energy security of the state, and it is necessary to give a certain priority. Green generation is also a priority, it is an investment climate and investor confidence," Shmyhal said.

Explaining support for the decision on equal distribution of funds, the prime minister said that the debt of previous periods to Energoatom associated with the company's fulfillment of public special obligations (PSO) and the need to maintain a tariff of 1.68 UAH per kWh is about UAH 7 billion, of which at least UAH 5 billion is needed in the first quarter of this year.

"The minimum amount of funds required for the company in the first quarter of this year, taking into account repair campaigns and fulfilling obligations to provide households with electricity, is about UAH 5 billion," the head of government said.

He added that for further settlements with renewable energy generation, the government will quickly work on the issue of "green" bonds, which is provided for in the agreements with the IMF and laid down in the budget for 2021.

"We will promptly do this and ensure payments to green generation at the expense of green bonds," Shmyhal said. In his opinion, representatives of green energy and banks should understand such actions of the government in the current situation.

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