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Lawsuits from green energy producers could hit $1 billion a year

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State losses due to lawsuits from green energy producers could hit $1 billion a year, predicts Oleg Gramotenko, General Director of Tesla Energy, ubn.news reports.

“More than half of investors in renewable energy are already negotiating with international law firms regarding the preparation of lawsuits against the state of Ukraine,” he said at a press conference at Interfax-Ukraine. He said that nine months of talks over green tariffs have not resulted in a compromise

The Guaranteed Buyer of electricity, known as GarPok, has fallen almost half a billion dollars behind in payments to green producers, says acting Minister of Energy Olga Buslavets.

According to the GarPok website, the level of its settlements with renewable producers was: 11% in March; 5% in April; and 7% in May. According to Ukrenergo, the installed capacity of wind and solar plants in Ukraine now is 5.2 GW, about triple the level of 18 months ago.

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