Government updates rules for auctions supporting renewable energy projects

The Cabinet of Ministers of Ukraine has updated the rules for auctions distributing quotas to support renewable energy projects. This autumn, “green” auctions will be held under the new procedure, First Deputy Prime Minister and Minister of Energy Denys Shmyhal announced.

According to him, the key innovations include:

• Simplified investor participation in auctions. A new instrument guarantees project implementation: participants can choose an alternative to a bank guarantee by providing financial security directly to the Guaranteed Buyer. This makes the mechanism more flexible and accessible for businesses.
• Reduced financial burden on investors. The size of bank guarantees has been lowered, meaning companies no longer need to “freeze” large sums to participate in auctions. These resources can instead be directed to building new generation capacity.
• Extended deadlines for confirming grid connection of facilities.

“By updating the rules, we are creating conditions that make investing in renewable energy projects in Ukraine simpler and more profitable. The more investment we attract into new generation, the more electricity Ukraine will produce itself. This will strengthen the country’s energy resilience and security amid constant russian attacks on energy infrastructure,” emphasized Denys Shmyhal.