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International financial institution refused to invest in green projects in Ukraine

Ukraine / Europe

NEFCO said that the problems that have arisen in the renewable energy sector of Ukraine due to the actions of the authorities threaten further investment.

International financial institution refused to invest in green projects in Ukraine

The international financial organization NEFCO (Nordic Environment Finance Corporation) refuses to invest in new projects of "green" energy in Ukraine due to a retrospective reduction of the "green" tariff for producers of electricity from renewable sources, non-payment of the State Enterprise "Guaranteed Buyer" of its obligations and possible the introduction of an excise tax on electricity from renewable sources.

This was announced on June 3 by the European-Ukrainian Energy Agency with reference to a letter received from NEFCO.

“NEFCO has decided to stop investing in new projects in the renewable energy sector in Ukraine until a stable and predictable investment environment is established and until the Government of Ukraine begins to adhere to its obligations,” the European-Ukrainian Energy Agency noted. p>

As stated in the letter from NEFCO, imposing an excise tax on electricity from renewable sources is the wrong way. According to the company, clean electricity should be subsidized and the use of fossil fuels should be taxed on 2 CO emissions.

Recall that the government submitted to the Verkhovna Rada of Ukraine for consideration bill , which provides for a number of innovations in the country's Tax Code. In particular, it is proposed to index the rates of excise tax on alcohol, environmental tax and rent for the use of a radio frequency resource, taking into account inflation in 2020, and to raise the rent rate for subsoil use.

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