16:58 11.02.2021

Green bonds to pay to RES generation could total up to UAH 24 bln – Energy Minister

2 min read
Green bonds to pay to RES generation could total up to UAH 24 bln – Energy Minister

A quick solution to the issue of debt to producers of "green" electricity (RES) could be the issue of "green" bonds in the amount of up to UAH 24 billion, but at the same time solutions are being sought to avoid the accumulation of such debt in the future, acting Minister of Energy of Ukraine Yuriy Vitrenko has said.

"We are working on a quick option - issuing green bonds up to UAH 24 billion," he said at a meeting with the European Business Association (EBA).

Vitrenko also said that at least half of the loan from state banks to Ukrenergo in the amount of UAH 10.25 billion, directed to state enterprise Guaranteed Buyer, will also be used to pay off the debt, which partially solves the problem.

According to him, among the long-term solution to the problem, payments from the budget through a tax on carbon emissions or advance payments for the supply and transportation of "green" hydrogen are considered.

Another option Vitrenko called the issue of "real green" bonds with a maturity of 10-15-20 years.

As reported, this week the Verkhovna Rada has registered bill No. 5041, which provides for the issuance of government domestic loan bonds in the amount of UAH 25 billion for settlements with producers of green electricity, while a similar bill previously submitted and withdrawn assumed their issue for UAH 19.6 billion

At the same time, according to the Interfax-Ukraine agency, the Ministry of Finance opposes the issue of government bonds for these purposes, offering Ukrenergo as an issuer. An option is to provide state guarantees for these securities.

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