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12
October
2021

Ukrenergo intends to fully pay off debts in renewable energy sector – board chairman

KYIV. Oct 12 (Energy Reform) – NPC Ukrenergo intends to ensure full repayment of debts to producers of green electricity by issuing government bonds and its own funds, Ukrenergo Board Chairman Volodymyr Kudrytsky has said.

"With the help of these bonds, as well as the proceeds of October, November and December, which will be surplus months for us in terms of fundraising for PSO [public service obligations to ensure the development of green energy], we plan to pay off debts in the renewable energy sector ‘to zero’ as of the end of 2021," he told Energy Reform on the sidelines of the conference "Ukraine’s Integration into ENTSO-E: Step Towards Energy Independence" in Kyiv on Monday.

At the same time, he confirmed that the volume of the bond issue will take into account debts to renewable energy generation both last and this year.

At the same time, he did not disclose the details of the government bonds issue.

"Until the announcement of the transactions, we, unfortunately, cannot disclose the commercial details of the transaction. There is a certain procedure for placing these securities in highly organized and very liquid markets," Kudrytsky said.

As reported, the Cabinet of Ministers provided NPC Ukrenergo with a state guarantee for the issue of bonds in the amount of up to UAH 22.8 billion to pay off debts for electricity produced from renewable sources at a feed-in tariff.