15:24 09.06.2020

Investors in renewable energy to be forced to sue Guaranteed Buyer for non-payments under feed-in tariffs – market player

2 min read

KYIV. June 9 (Interfax-Ukraine) – Investors in renewable energy will be forced to sue state-owned enterprise (SOE) Guaranteed Buyer for non-payment for the electricity they produce, the founder of Vindkraft Ukraine, Carl Sturen, has said.

"In the near future, owners of renewable energy facilities will have to sue Guaranteed Buyer. Now, due to long delays in payments, many companies have nothing to pay interest on loans, salaries. We only pay taxes, and then we won't be able to do this for long. If we do not sue, then creditors will be the first to hold us accountable," Sturen said at a press conference at Interfax-Ukraine on Friday, May 5.

At the same time, according to him, it is difficult to count on a positive result of these lawsuits and receiving money.

"The Guaranteed Buyer is a dummy. It is a waste of time to seize its accounts. For settlements, most likely, it will be necessary to create a third company. It will take a long time and lead to a stalemate," Sturen explained, adding that, "perhaps this is the plan of the enemies of green generation."

As reported, the debt of the Guaranteed Buyer to renewable energy companies, according to acting Minister of Energy Olha Buslavets, is UAH 14 billion. According to information on the website of the Guaranteed Buyer, the level of its settlements with the industry in March amounted to 11%, April – 5%, May – 7%.

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