Saakashvili: the State must come to a solution to the problem of green energy

Ukraine should sign a Memorandum of understanding with foreign investors in green energy, because they already have major concessions, and further “hand-wringing” will lead to lawsuits and loss of reputation of the state.

Саакашвили: Государство должно прийти к решению проблемы зеленой энергетики

This was stated by the head of the Executive Committee of the reforms of Mikhail Saakashvili during the online meeting with the head of the European business Association Anna Derevyanko, commenting on the possibility of signing a Memorandum in the near future.

“There is a large Western investment and we in the course have changed the rules of the game. So to do badly. Especially because now you need to grab investors with two hands because they are willing to compromise”, — Saakashvili said, expressing hope that in the near future will be a compromise.

According to him, after many months of complex negotiations, the government should come up with a solution to the problem of green energy, with investors now went to critical concessions.

“If you end up twisting their hands, and they still will go for it. It won’t be. They will go to the courts, and we will receive long-term reputational damage,” he stressed, adding that said the Prime Minister D. Shmyhalou and President of Ukraine Viktor Zelensky.

However, Saakashvili announced that the green energy sector consists mainly of foreign investors and has no monopolies. According to him, and the largest player – DTEK Rinat Akhmetov – the market share of green energy of less than 18%.

We will remind, earlier the Prime Minister Denis Shmyhal announced that the government has found a compromise with investors in “green energy” and the Memorandum is almost ready for signing.

May 21, foreign investors from more than 10 countries wrote a collective appeal to the head of the government that they agree on the reduction of green tariffs for the speedy signing of the Memorandum with the Cabinet.

As noted by the owner of the company “Windcraft Ukraine”, the Swedish investor Carl Sturen, the European Bank for reconstruction and development and other financial institutions stopped funding green projects in Ukraine until the signing of the Memorandum.

Earlier it was reported, on 15 may, the Cabinet of Ministers of Ukraine hosted a meeting between Chairman of the government, market players and professional associations, representing investors from USA, Norway, Sweden, Germany, Turkey, Spain, France and other countries.

According to the Chairman of the national Commission carrying out regulation in the sphere of energy and communal services Valery Tarasyuk, the government should find a compromise with foreign investors in green energy to reduce green tariff and thus avoid arbitration.