Since 2009, the development of renewable energy sector in Ukraine, like in other countries, have been stimulated by a special "green" tariff, which investors take into account during planning their long-term contributions. As often loans are given in foreign currency, including for the purchase of foreign equipment, the legislator provides indexing "green" tariff on the basis of the euro rate. This provision included in the law of Ukraine "On Electric Power Industry". Since 2009, the size of the "green" tariff with taking into account exchange rate fluctuations has been monthly reviewed national energy regulator. Thus state guarantees to investors have been met. From August 2014 the "green" tariff was no longer overviewed actually breaking the law.

     The decision to overview was made on January 31, 2015. National Commission for State Regulation of Energy and Public Utilities (NCSREPU) has taken into account the exchange rate change, but at the same time has lowered the tariff. For solar power plants commissioned before April 2013, "green" tariff was reduced by 20% for the other producers of electricity from alternative sources tariffs were cut by 10%. NCSREPU indicated the government decree on emergency measures in the energy sector as the reason for such actions.

     In EBRD believes that such a movement is capable irreversibly undermine the investors trust who focuses on the long term and bases their decisions on the existing legislation. Opacity government decisions on tariff policy creates additional risks. A failure of a number of provisions of the EU directive on renewable energy threatens the investment attractiveness of the country.

     European Bank for Reconstruction and Development - one of the biggest investors in Ukraine. Today, it funded more than 300 projects in various areas of more than 8.4 billion. euro. In partnership with the Clean Technology (CTF) Bank is also one of the largest creditors of projects in the field of renewable energy within the framework of the financing of renewable energy in Ukraine (USELF).

     Considering the potential of renewable energy sector, the scale of which is estimated at 15.2 billion. US dollars "new" investments in 2020 (in accordance with the obligations of Ukraine to reach the 11% share of renewables in the overall balance of energy sector by 2020), the inconsistency of the state policy in this area - very short-sighted approach in the context of the desire for energy independence.
In this situation, the "manual control" of energy sector such financial institutions as EBRD EIB (European Investment Bank), IFC (International Finance Corporation) can not plan long-term activities to attract new investments in this vital sector of Ukrainian economy.

Source: GolosUA.