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17.07.2020

OPEN LETTER TO THE CHAIRMAN OF THE VERKHOVNA RADA OF UKRAINE ON SUPPORT FOR THE BILL NO 3658

On 17 July 2020, the Ukrainian Wind Energy Association called on the Chairman of the Verkhovna Rada of Ukraine Dmytro Razumkov to personally facilitate the speedy adoption of the Draft Law No 3658 and, at the same time, expressed its indignation at the 1299 amendments to the Bill`s text proposed by MPs.

“The adoption of amendments which deliberately worsen the conditions for investors and RES producers and contradict the provisions of both the MoU and original Draft No 3658 which has passed its first reading, will violate the state guarantees given to the investors. We cannot ignore the fact that such scenario will inevitably affect the confidence of international investors and partners to the Ukraine and our business climate and cause the negative consequences. These include, among others, possible defaults under existing loan agreements, numerous appeals to the national courts and international tribunals, and the termination of international funding for renewable and other sectors’ projects in Ukraine,” UWEA stated.

The UWEA has always advocated compromise solutions aimed at respecting the interests of both the state and investors. Draft Law No 3658 is one of such examples. Moreover, according to the UWEA`s calculation, the adoption of the bill will save public money in the amount of more than 70 bln UAH without additional financial burden on consumers.

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