15:19 15.11.2021

Oschadbank on Nov 12 sends UAH 5.6 bln out of UAH 19.3 bln of funds from Ukrenergo eurobonds to RES producers

2 min read

On November 12, as of 21:00, Oschadbank sent UAH 5.6 billion to producers of electricity from renewable sources (RES) out of UAH 19.3 billion received by Oschadbank on November 11 from the placement of NPC Ukrenergo's eurobonds, ex-director of the state-owned enterprise (SOE) Guaranteed Buyer Kostiantyn Petrykovets has said.

"After 21:00 on Friday, UAH 5.6 billion, part of the funds in the amount of UAH 5.6 billion were sent to power producers from renewable sources, but not all, not proportionally," he said at a press conference on Monday.

As Petrykovets said, the licensing conditions of Guaranteed Buyer provide for an equal approach to all producers of renewable energy sources.

"That is, receiving any funds, we must distribute them in proportion to the existing debt," the ex-head of Guaranteed Buyer said.

"For our part, having carried out all the necessary measures, we verified the calculations, prepared payment orders, carried out distribution in accordance with the requirements of the current legislation, signed these documents and sent them on Friday to Oschadbank, which services us," Petrykovets said.

However, according to him, these funds were not sent by the bank on Friday in full volume to renewable energy generation; only a part of them in the amount of UAH 5.6 billion was received on the accounts of producers of green electricity after 21:00.

In addition, as the ex-director of Guaranteed Buyer said, after the company received UAH 19.3 billion, he began to receive "some requests to hold these funds, not to send them to someone, and so on."

However, Guaranteed Buyer sent money to counterparties in full and proportionally to the debt, Petrykovets said.

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