Ambassadors of countries investing in “green” energy in Ukraine are afraid of no returning the investment

The ambassadors of Belgium, Great Britain, Canada, Norway, Germany, France, Sweden and South Korea to Ukraine in a letter to the country’s leadership called on to prevent the non-return of investments in renewable energy sources (RES) of the country.

This is stated in the corresponding letter, reports Interfax-Ukraine.

“We are optimistic about the mediation process that your government is currently implementing with the Energy Community Secretariat and which in the coming weeks should lead to a consensus agreement with foreign investors and stakeholders. We understand that the draft memorandum was prepared in the mediation process.

With the necessary goodwill on both sides, this memorandum can be finalized, providing a possible basis for a settlement”, – the letter says.

Ambassadors are aware that the electric power sector of Ukraine is now facing serious challenges, but they urge not to make irreversible changes to laws and market rules that will prevent investors from guaranteed return on their investments.

The text of the letter indicates that at present foreign companies have already invested more than $ 2 billion in investments in the development of the renewable energy sector of Ukraine, which indicates confidence in the country to fulfill its regulatory and legislative obligations.

Given this, the ambassadors urged not to undermine investor confidence by making decisions that may have short-term benefits, but at the same time negative long-term consequences for the electricity sector and for the investment climate in Ukraine as a whole.

“It is also worth noting that a number of Ukrainian renewable energy projects have been secured by export credit guarantees provided by foreign governments.

Therefore, we cannot exclude the possibility that any unilateral cancellation of legal guarantees by Ukraine may lead to the fact that the provision of state credit guarantees in the future will be carried out with great reluctance”, – the letter says.

Source: epravda.com.ua