Government has approved a decision that allows for holding green auctions to sell energy produced from alternative sources transparently through Prozorro.Sales platform.

"This will stimulate the production of alternative energy and will allow for the reduction of the price of clean energy," Prime Minister Oleksiy Honcharuk said.

The Government's decision creates the conditions for the development of renewable energy; enables the attracting of cheap credit resources; and is aimed to promote the development of high-tech equipment production in Ukraine.

After all, the key features of the green auctions envisaged by the resolution are as follows:

• ensuring fair competition among the bidders;
• maintaining the complete confidentiality of bidders and their applications, as well as the complete disclosure of the entire information after the bidding process is completed;
• automatic formation of a protocol on the auction results by the electronic trading system and determination of winners which eliminates the "human" factor;
• ensuring public control over the entire auction process;
• convenience and ease for investors - the process excludes the use of paper documents or the physical presence of participants during the preparation and holding of the auction stages.

The first such auctions are scheduled for April 2020.