Courts green energy will cost Ukraine $ 250 billion — analysts

Суды по «зеленой» энергетике будут стоить Украине 250 млрд — аналитики

Photo: the Dnipropetrovsk regional state administration

The Cabinet approved an agreement with investors for more than a month ago

Investors in renewable energy EN masse will sue the Ukraine, if not will result in an agreed bill, experts believe.

Litigation with investors in green energy will cost Ukraine $ 250 billion hryvnia in the event of failure of bill No. 3658, which provides a solution to the debt problem of the industry, according to analysts at the Razumkov Center.

“We have clear signals from domestic and foreign investors, in case of failure of voting for the bill No. 3658 will be held on mass claims in international investment arbitrations that would be detrimental to the state in the amount of 250 billion hryvnias”, — reported in the center.

Analysts assess as very high the chances of the investors to win lawsuits.

“Razumkov centre expresses support for the bill and insists on the adoption in the Parliament, because this will retain the reputation of Ukraine as an investment-attractive state, as well as allow to avoid the enormous losses of investment arbitration”, — is spoken in the message.

At the same time the Verkhovna Rada the draft law is still not adopted. Representatives of the energy community are urged to adopt it without changes before the summer recess of Parliament.

Because of the crisis in the energy sector, state companies have accumulated billions of dollars in debt. In particular, the debts of the Guaranteed buyer to investors in green energy exceeded $ 17 billion.