The Verkhovna Rada adopted a draft law to reduce FIT

The Verkhovna Rada supported in its first reading the draft law No.3658 aimed at reduction and restructuring FIT, Economichna Pravda.

268 deputies voted for the decision.

Also, MPs did not support the shortened procedure for preparing edits and proposals for the second reading.

The Cabinet of Ministers of Ukraine signed a Memorandum of Understanding on the settlement of problematic issues in the field of renewable energy on June 10.

The document provides that renewable energy producers accept the terms of voluntary restructuring of FIT by 15% for commissioned solar power plants in 2015–2019, and 10% for solar power plants launched in the said period with a capacity of up to 1 MW. For wind farms, a tariff reduction of 7.5% is envisaged.

Earlier it was reported that NEFCO asked Ukraine to come to an agreement with all investors in renewable energy sector in order to avoid lawsuits.

Tags: contracts, renewable energy, solar energy, wind energy, court, legislation, NEURC, Ukrenergo, feed-in tariff, ETL, electricity market, foreign affairs, , Guaranteed buyer, debt, renewables, The Verkhovna Rada, law, investors, price, agreement, volumes, power system balance, ecology, decarbonisation, infrastructure, electricity transmission, IPS, crisis, Buslavets, The Ministry of Energy, energy storage, electricity consumption

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