Ukrenergo plans to issue 'green' bonds for EUR 500 mln for payment to RES.

Ukrenergo plans in the fall of this year to issue five-year "green" bonds in the amount of approximately EUR 500 million to pay off debts to green electricity producers for 2020, Head of Ukrenergo Volodymyr Kudrytsky has said.

"The reason for stating this is our preparation, which we have been conducting for several months, our understanding of this process, as well as the fact that the state budget provides funds for state guarantees for the issuance of such bonds. We also have enough instruments, we see the support of state authorities in this. We are not seeing any fundamental obstacles now," he said in a comment to Energy Reform during the 12th European-Ukrainian Energy Day in Kyiv.

According to him, the issue of these bonds will enable the company to cover the remaining debt to Guaranteed Buyer state enterprise for 2020.

Kudrytsky noted that the interest rate at which the issue will be carried out is still unknown.

"We do not know the interest rate, it will be a matter of negotiations, market assessment, and will also depend on what will be the rate of Ukraine's sovereign bonds during the period when we will place our own," he explained.

At the same time, he stressed that by the end of the year Ukrenergo intends to resolve the problems in the balancing market, which will significantly improve its financial condition.

"By the end of the year, we have plans to solve the problems in the balancing market in order to ensure the liquidity of this segment, and so that the generation providing services in this market can quickly receive funds for these services," Kudrytsky said.

Commenting on the negative impact of the company's financial position on its certification as a system operator, on which Director of the Energy Community Secretariat Janez Kopač emphasized during the Energy day, Kudrytsky expressed confidence in a positive outcome.

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