The government adopted a resolution as of 2 August 2022, No. 889 that improved the process for holding green auctions for the construction of renewable energy facilities, taking into account European standards and expertise. The auction procedure will become more flexible, transparent, and efficient.
In particular, the resolution introduced the schedule of auctions for the next year and the establishment of indicators of quotas for 4 years. Currently, it is also possible to create additional quotas in case of intensification of certain market segments and increased requests from investors. In addition, it is possible to hold open auctions with transparent prices and volumes of auctioned electricity, as well as the requirements for participation in auctions are simplified.
Thus, the introduced changes in the green auction procedure will ensure the predictability of the renewable energy market, which will enable long-term planning for investors, will provide an opportunity to reduce the price of green electricity on a competitive market basis, will allow the state to regulate the volume of introduction of new renewable energy sources, their types (SPP/WPP/biomass) and locations in accordance with the capabilities and needs of the energy system. Furthermore, improving the procedure of green auctions will contribute to the further development of renewable energy sources in Ukraine on a competitive basis and the fulfillment of the state’s strategic goal and international obligation to decarbonize the economy.
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