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On 10 June 2020 the Cabinet of Ministers of Ukraine approved the Memorandum on fixing problematic issues in the renewable energy sector of Ukraine (the "Memorandum"). The Memorandum was developed within the mediation procedure between renewable energy investors and the Ministry of Energy and Environmental Protection of Ukraine ("Ministry of Energy") under the Energy Community Secretariat Dispute Resolution and Negotiation Center.
Subject to some minor amendments, the Memorandum suggests the following changes to the renewable energy regulatory framework:
Reduction of the "green" tariff without extension of the PPA
Tariff cap for projects commissioned before 1 July 2015 – 22 EUR cent
Responsibility for imbalances
Until 31 December 2029 responsibility for imbalances is conditional to the tolerance margin of 5% for PV and 10% for wind projects.
Commitments of the Government:
The Memorandum becomes effective after signing by the Prime Minister of Ukraine, the Minister of Energy and Environmental Protection of Ukraine, the Chairman of the National Energy and Utilities Regulatory Commission, the Chairman of the Parliamentary Committee on Energy, Housing and Utility Services. The Memorandum becomes effective for renewable energy associations and investors after joining the Memorandum. To join the Memorandum it is necessary to send a letter to the Ministry of Energy.
The Memorandum has been signed by the Prime Minister of Ukraine, acting Minister of Energy and Environmental Protection of Ukraine, the Ukrainian Wind Energy Association and the European-Ukrainian Energy Agency. Ukrainian Association of Renewable Energy has not signed the Memorandum.
By signing to the Memorandum renewable energy investors do not withdraw their right for investment arbitration.