VINDKRAFT UKRAINE estimates LOSSES FROM THE INTRODUCTION OF EXCISE TAX ON “GREEN” ELECTRICITY AT three MILLION. EUR

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 VINDKRAFT UKRAINE estimates LOSSES FROM THE INTRODUCTION OF EXCISE TAX ON “GREEN” ELECTRICITY AT 3 MILLION.  EUR

Vindkraft Ukraine, which is active in the field of wind energy in Ukraine, estimates its possible annual losses from the introduction of the excise tax on “green” electricity at 3 million euros.
“Our consumption tax losses will amount to 3 million euros per year,” said company founder and CEO Carl Sturen in a comment on the energy reform on the sidelines of a press conference by the Interfax-Ukraine agency on the development of renewable energy sources on June 9th.
At the same time, he noted that the introduction of the excise tax would require renewed negotiations with banks to finance the company’s restructuring loan projects.
“If a decision is made now on the excise duty, it will be necessary to recalculate it in order to renegotiate that we cannot meet the payment deadlines. It’s an ongoing process, ”complained Sturen.
In the past as well as in the current year, the company’s management is continuously involved in the restructuring of loans, according to him.
“We do this all the time. First, we signed a memorandum – we made our schedules with the banks according to the memorandum, taking into account that it will be met. Then the memorandum is not fulfilled – it had to be renegotiated. Now the consumption tax is pending – negotiations again, ”said the head of Vindkraft Ukraine, describing the situation.
At the same time, he stressed that it would be impossible to build anything in such conditions, emphasizing that “this year the company has planned to build a wind farm with a capacity of 200 MW in the Kherson region, but it is already clear that this will not be the case ”. Have time for it. “
According to Sturen, it is now difficult to negotiate financing for new projects.
“Nobody finances, they are waiting for the law and the memorandum to be fulfilled. Everything is in the balance, ”he explained the state of affairs.
Nevertheless, the company’s CEO believes that signing the memorandum is the right decision.
“Nevertheless, this memorandum was correct. I see the government’s efforts to meet them, but unfortunately the situation is made more difficult by the manipulation of agencies that are not directly subordinate to the government. This is particularly the regulatory authority, ”said Sturen.
He justified his position with the fact that participants in the electricity market who allow manipulation remain exempt from punishment and this falls under the responsibility of the energy regulatory authority – the NEURC.
“If the market players undermine it with falsified quantities and bids for consumption and sales, if no penalty is imposed for this, the manipulations are, as far as I know, in full swing. And the “green” generation is suffering and there are artificial losses for Energoatom, ”he said.
In his opinion, “green” generation, which requires payments and compensation, causes only 5% of the problems in the market and 95% is caused by manipulation.

GREEN ELECTRICITY, TAXES, VIND POWER