Kiev calls on businesses to get ready for hard winter, invest in power generation projects

MOSCOW. June 17 (Interfax) - Ukrainian Deputy Economy Minister Nadezhda Bigun has advised businesses to consider launching distributed generation projects to cover their own electricity needs as Ukraine braces itself for another difficult winter.

"Ukrenergo showed us examples of business cases with different types of generation and cost recovery calculations. This is actually a ready business case one can go to a bank with. If there is a business that is ready to build generation to cover its own needs, or even may have surplus electricity that it can give to the grid, we heartily welcome that, because we understand that this winter is going to be very tough," Ukrainian media quoted Bigun as saying at the RAU Expo 2024 in Kiev.

The Ukrainian government earlier approved a decision to cut the coast of loans to finance the installation of solar panels at private houses and plans to simplify the issuance of loans for projects to produce electricity for businesses, she said.

"The government adopted an order last Friday that allows solar panels to be installed at private houses at 0% per annum. This product has been developed jointly with partners and will be offered through the Business Development Fund, same as the Affordance Loans 5-7-9 program. Solar panels are already listed in the 5-7-9 program as a priority, along with wind power. We are now adding gas generation and energy storage as priorities. In such a way, we will help businesses wishing to build their own generation to gain access to financing," Bigun said.

The procedures for connecting to the grids have already been simplified, and Ukrenergo and the National Commission for State Regulation of Energy and Public Utilities have drawn up five-year contacts on auxiliary services, she said, calling on businesses interested in developing their own power generation to ask the Economy Ministry for advice.

As reported, the Economy Ministry is preparing a decision on expanding the Affordable Loans 5-7-9 state program, aimed at providing low-interest loans, to include distributed generation projects. It is also drafting a bill to exempt imports of electricity generation equipment of taxes. The National Bank of Ukraine, for its part, has pledged assistance to banks that issue loans for distributed generation projects.