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Ukrainian President Signs Law to Support ‘Green’ Energy

August 3, 2020


President Volodymyr Zelensky has signed a law on improving the conditions for supporting the production of electricity from alternative energy sources.

“The President signed bill No.3658, which enshrines the key provisions of the Government memorandum with “green” energy producers. The law will reduce tariff rates for solar power plants by 15% and for wind power plants by 7.5%,” Prime Minister Denys Shmyhal wrote on his Facebook page.

According to the PM, the law means that the state and all Ukrainians will save almost UAH 7 billion annually.

Shmyhal expects that by 2030 the memorandum will reduce the amount of payments for “green generation” by about EUR 2 billion. “The signed law will help balance the electricity market, protect the rights of investors, and avoid an increase in electricity tariffs for people,” the PM added.

As Ukrinform reported, on July 21, the Verkhovna Rada adopted a law “On Amendments to Certain Laws of Ukraine Concerning Improving the Conditions for Supporting the Production of Electric Power from Alternative Energy Sources.”

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