The Cabinet of Ministers can equally distribute 10.25 billion of the loan from Ukrenergo under state guarantees between Energoatom and renewable energy generation

Prime Minister Denys Shmyhal said that the preliminary decision on the distribution of UAH 10.25 billion of loans under state guarantees received by NPC Ukrenergo from three state banks to pay off its debt to Guaranteed Buyer provides for their equal division between Energoatom and renewable generation, Interfax-Ukraine reports.

“Preliminary decision: to distribute funds from Ukrenergo equally between Energoatom and green electricity producers,” he said.

He clarified that with such an approach, the parties would eventually receive approximately UAH 5.1 billion each.

The prime minister stressed that the government is aware of the importance of support for both nuclear generation, as the basis for the state's energy security, and renewable energy generation, where Ukraine has international obligations signed, including green electricity producers, the EBRD, and the World Bank.

“Energoatom is the state's energy security, and it is necessary to give a certain priority. Green generation is also a priority, it is an investment climate and investor confidence,” Shmyhal said.

He added that for further settlements with renewable energy generation, the government would promptly work on the issue of "green" bonds (bonds), which is provided for by agreements with the International Monetary Fund (IMF) and laid down in the budget for 2021.

Recall that on December 10, 2020, the Cabinet of Ministers approved state guarantees for Ukrenergo to attract UAH 11.3 billion of loans for settlements with the Guaranteed Buyer State Enterprise and its subsequent settlements with power generation, the debt to which from the NEC is about UAH 30 billion.

Earlier it was reported that Ukrenergo signed three loan agreements with state banks for UAH 10.25 billion to pay off the debt to Guaranteed Buyer.

Tags: The Cabinet of Ministers, NNEGC "Energoatom", IMF, Ukrenergo, electricity market, foreign affairs, debt, renewables, investors, Shmyhal

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